I'm still trying to get my head around how Warrants work and the potential benefits they offer, so please be patient with me!

I have only a small amount to invest ($10,000) but I am looking at Instalment Gearing, around $1000/mth, so this amount will build quite quick. I'm not into trading, but longer-term buy and hold.

I've been looking at Warrants, as I have a 7-10yr Timeframe and no need for Dividends/Franking Credits in my pocket.

Now, as long as the price increases, this is a win-win, correct?
I can purchase more as they are cheaper, the divs can pay off the Final Installment, and in 10 years I have a nice little portfolio built up....

One of the ones I have been looking at is CBASWC.
Expiry Date: 30/06/16 Exercise: 23.105
Last: 21.190 Valuation: 24.240

Current Price for CBA is 45.86, Divs approx $3/yr. So over 8 years, the Final is paid off, I pay approx $22 to hold, and then get them in 2016, valued at.... ??? (Would like to predict somewhere around $85)

Sorry if I have oversimplified, I am trying to understand and I can't find a lot of documentation on the net that I can understand!!