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7936567 Canada Inc SWYDF

Stornoway Diamond Corp is a leading Canadian diamond exploration and producing company. Its principal business is the development of its flagship asset, the fully-owned Renard Mine, located in Quebec, Canada. The company intends to grow its business through the exploration and development of its mines. Stornoway also holds interests in a portfolio of exploration assets across Canada through owned properties and joint ventures. These properties and joint ventures include projects such as Adamantin, Qilalugaq and Pikoo.


GREY:SWYDF - Post by User

Bullboard Posts
Post by HCaseon Jul 04, 2007 2:49am
443 Views
Post# 13033408

Vaaldiam+Great Western+Elkedra

Vaaldiam+Great Western+ElkedraCouldn't sleep, so stepped onto Stockwatch and Stockhouse for a bit, and what do I see - Vaaldiam announces a friendly takeover of Great Western Diamonds and Elkedra, an Ozzie company on the ASX and AIM as EDN. Latest market caps of VAA 76mm + GWD 15mm + EDN (I estimate) 55mm C$ (fully diluted, anyway not less than 40 mm C$ o/s) puts the combo at $140mm, as of today's closing prices. The combo is then a producer, developer and explorer, with all three in Brazil, along with exploration in Canada and Australia. Hey, doesn't this sound like what SWY wants to be? And similar in market cap. Or maybe I should say, VAA wanted to be what SWY was aiming for, and just leap frogged it. I am commenting only on the notion, not on the quality. I don't know enough about VAA and GWD to comment on their prospects, and had never heard of EDN before. There has been comment on this board that most companies will spin off their development projects to maximize value, and questioning whether SWY is doing the right thing going in the opposite direction. It is interesting that now VAA+GWD+EDN are following the same path as SWY. We will have something to compare SWY to. I would be interested in comments from anyone who has looked at or owns VAA or GWD. Good or bad? Is there a good reason to consider the new combo as direct competition for investor dollars? Does anyone know anything about Elkedra? I might consider it to complement or replace SWY in my portfolio if the quality and prospects are there. Or is it nothing more than an interesting comparison stock?
Bullboard Posts

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