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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 Nov 26, 2007 4:44pm
92 Views
Post# 13869580

RE: and she closes @0.37

RE: and she closes @0.37What happened to NG is out of their control. Costs are escalating, and they are escalating for everyone everywhere. That's what inflation does - it results in things costing more. NG's Galore property wasn't exactly great. If I recall, the ore was worth on average about $50 per ton, and likely a bit less now. SWN's ore is still worth more than $100 per ton. NG did the right thing, and the market over reacted. Dr Paper on the other hand would have went ahead with the project and would have killed the company. You can be sure that similar such problems are occuring elsewhere. There will be more postponements, more delays, more shut downs. All of this will only mean that the supply of commodities will tighten, forcing prices up.
Bullboard Posts