just went through the 2011 year-end financials released last week.
Balance sheet is clean, with over $1.5M in cash, plus approx $1M in capitalized costs on the two properties (Abitibi in Quebec, and the rare earth acreage in BC).
with 48M shares o/s, and all the warrants and options way out of the money (no risk of them being exercised), stock at
.035 is not even trading at tangible book value of roughly
.05 or
.06.
so stock is trading under BV, and market is giving no credit for what potential EMI will do with its cash hoard, which was mostly raised early last year and yet to be deployed (save for a bit of exploration expense in BC).
I've been buying the past couple days at
.035, and i'll be happy if someone sells more to me at that price in the coming days.
EMI will have to do something with that cash, whether it be jumping on the graphite bandwagon and buying into some acreage in that sector, or further purchases of potential REE acreage, so stock ain't gonna be this low the whole year.
my guess, we'll get a pop to
.10 or higher before the fall, on some news regarding what they do with their cash hoard.