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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 Aug 02, 2007 2:13pm
211 Views
Post# 13192675

RE: SWN undervalued with too many shares

RE: SWN undervalued with too many sharesPeople are only talking about Dr Paper because of the repeated idiocy of how he has managed things to date. The reality is I think that just an average person off the street could do a better job since its quite easy for them to grasp the simple concept of limiting dilution, and setting practical budgets, and so on. A $25 million exploration budget is not the exploration budget of a penny stock. That's the budget of a major or at least a company that is not trading at $.65. Once (if ever?) things are done like one sees in even a modestly successful company, then no one will be talking about Dr Paper. But I doubt it. He is carrying on like he's in a big company with significant resources and he isn't. Also, there is now far too much paper out there for a company this size. You cannot find enough shareholders to buy this amount of paper. The investment houses that have it know this and will dump at their earliest opportunity. Fund managers, which could be potentially large shareholders, are not interested in it because of its market price. And even if the price were to increase, with Dr Paper at the Helm I doubt they will buy. The best thing to do at this point is consolidate the shares 4:1 or 5:1, and replace Dr Paper with someone that will do a better job.
Bullboard Posts