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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 Feb 27, 2008 2:49pm
124 Views
Post# 14556159

RE: YZC sp could pass SWN

RE: YZC sp could pass SWNThe YZC NR was a preemptive one, since its already a given that the Barclay's loan offer will expire by the end of March. That loan - for $140 million - was conditional on YZC coming up with the remainder of the cash needed to complete the project - which 8-10 months ago was about $80 million or so - but is probably a lot higher now due to inflation. Barclays would secure the loan with the asset - essentially owning 100% of the project until the loan was paid off. But no one will loan SWN that kind of money under those kind of terms. The only option now is for a company with deep pockets to come in. It will likely cost $300 to $400 million (or more) to complete the project - due to inflation. Depending on what shareholders have already paid to get the project where it is, will give you an idea of how much ownership they will have to give up - and then some to make the offer attractive for a benefactor to come forward. Bottom line - what will shareholders get? Doesn't look look like much. This is how Dr Paper operates - the shareholders (bag holders) are expendable and don't rate much even though everything he has is due to their hard earned money.
Bullboard Posts