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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 Jan 18, 2008 1:38pm
154 Views
Post# 14225840

RE: UNBELIEVABLE

RE: UNBELIEVABLE"How much of a joke does the market actually think Harlan Meade is?" This may be a factor. But a bigger issue is financing. What exactly can be done at this point? I doubt the brokerage firms are interested in any more paper, and its doubtful they will take on anymore than a token amount. If SWN issues 10,000,000 shares, they will also issue 5,000,000 warrants. That will bring in $2 million now and $1 million later. And little can be done with this amount of cash. "Or do the logistical issues SWN and YZC are facing transcend Harlan Meade?" This too is a factor, as is the price of zinc, as is the flow of funds out of the markets - either to other markets or to just pay bills. "Would a different management team even make a difference or are these projects so unlikely to see fruition that it doesn't matter WHO is at the helm?" A different - but competent - management team is a must here. Right now no one is interested in financing this project so that it will become a producing mine. However, someone may be interested in just buying it, with the objective of developing it at a later date. Had much less paper been issued, not only would the share price be better, but the market cap would be much higher. Its not that the property isn't good. Even now, with lower prices, there is a substantial amount of ore worth more than $100 per ton. That is still worth developing at some point. But you need someone who doesn't recklessly issue paper at every turn such as has been done here... had a disciplined and careful share issuance plan be followed, the stock price would be higher and the company wouldn't be worrying about how to get financing for the next year...
Bullboard Posts