The way I see it, they are totally different things.
The Goldcorp warrant directly follows the gold price unleveraged, whereas gold stocks don't. Stocks can be influenced by overall market sentiment (like today) and performance of the individual companies. On the other hand, the gold warrant has carrying costs which stocks don't, and no income which some gold stocks do.
I think it's personal preference based on the old standards of risk and return. If gold goes up but the stock market crashes, I don't think gold stocks will go up. However, some gold stocks can double in a few days with good news, but gold itself is unlikely to do that. And many gold stocks are not purely into gold, so could be affected by the price movements of other commodities as well.
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