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EDM Resources Inc V.EDM

Alternate Symbol(s):  SWNLF

EDM Resources Inc. is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. Through its wholly owned subsidiary, it also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia. The properties are comprised of exploration licenses and a mineral property lease that provides for zinc and lead exploration and development. The Scotia Mine is located approximately 62 kilometers (km) northeast of Halifax, Nova Scotia, in the Halifax Regional Municipality. The Project consists of about 648 hectares (ha) of mineral rights in the form of three contiguous mineral leases. It also holds five exploration licenses covering 41 claims in the immediate vicinity of the Scotia Mine Deposit. Its Eastville Prospect is an undeveloped zinc-lead exploration prospect. Its Carrolls Farm and Carrolls Corner Prospects are hosted within the Gays River Formation.


TSXV:EDM - Post by User

Bullboard Posts
Comment by JoeBloon Jul 30, 2007 6:51pm
158 Views
Post# 13173642

RE: on the brighter side

RE: on the brighter sideJust as expected, Dr Paper just added 23,000,000 more shares. On the plus side, SWN should go up to $.68 to $.70 now, since the kind of people Dr. Paper sells to are totally over-whelmed with a $.03 to $.05 gain in their stock and have to sell then - they can't contain themselves at these levels. It will take until late in the year for all of it to be sold. Just in time for a new share offering to be announced for next year for the 2008 drilling program. Let's see another $25 million at $.70 with warrants will mean Dr. Paper will be issuing another 50-55 million shares by year end. That will put SWN at over 200 million shares. Of course a JV partner will be just around the corner like its been for how long now? And even if one could be found, so what? The JV partner will have to do at least 90% of the financing and will want at least 75% of the project. SWN will have to finance the other 10%, which will likely mean another 200 million or so shares (plus 100 million warrants of course - can't forget those warrants). Lets see, 25% of a $100 billion dollar ore body = $25 billion (but only if prices hold). If SWN can reach 2% market cap value for the ore it owns, that will put SWN share price at a lofty $1.00. Tons of "ifs" here though, so bottom line, SWN is a gauranteed total loser at this stage thanks to Dr Paper. Many have long since come to this realization. The only question now is how much longer before everyone comes to the same conclusion. On the plus side, there is little need to worry that Dr Paper will be able to concoct any more companies like this in the future...
Bullboard Posts