NOT Warrants now at 50 cents?????

I find this very interesting. I would expect the values to drop as time ticks on and the stock price is miles away from the option price. I know I asked NOT to consider reducing the exercise price because of the hurt inflicted on those that foolishly passed on the CLF/FWR deal. In my case, I rescinded the surrender but my broker did not get it done in time.
Possibly someone is buying, hoping that there will be a resolution at the next AGM.
Tim