Post by
Nikolai on Dec 04, 2007 8:57pm
received $6,197,364 from Atomaer
The company received a dividend of $6,197,364 from Atomaer as mentioned in the MD&A filed several days ago. Not bad. Add this to the placment done mid-year and that's respectable cash to have on hand.
The nickel & platinum interests in Braemore (UK:BRR, via Atomaer) are performing very well with the stock on a tear in 2007. It looks to be consolidating with volume tapering off but share price holding firm, setting up for another run as the company's plan unfolds and metals prices climb. Rough calculation of value based on 605 million shares that will ultimately be owned by Atomaer (this includes performance shares) which at current prices works out to 38 cents/sh. for Ecometals. (calculation: 605MM sh. * .20p/sh = GBP 121,000,000 * 2.05 FX rate = USD 249,260,000 * 44% stake in Atomaer = USD 109,674,400 / 285 million sh. fully diluted = .38 per share) EML is trading for .26 today.
Add the uranium interests in Brinkley (UK:BRM) and the Atomaer value will improve going forward. Brinkley's already suffered political damage in the DRC, seems to have hit bottom and is buoyed by its South African properties and working capital (about $28 million). Brinkley also states: "We continue to assess opportunities and are actively progressing applications on a number of uranium projects, with discussions in Southern Sudan and Chad being the most advanced. We believe that we have positioned ourselves in some of the most prolific regions for uranium exploration and are confident that these projects will provide an exciting package for our shareholders."
Some of Ecometal's Brazilian mineral properties are finally on track for active exploration once again, and the legal situation seems to be improving as well, as is the Peruvian situation in some respects.
The wildcard remains Ecuador. Nevertheless, the selling seems quite overdone here.
Comment by
PapaTrance on Dec 05, 2007 4:48am
Hi,
i am a nice guy from germany.... but something like a noob too...i don´t understand the meaning of this Atmoaer.
So Ecometals owns Shares of them like i own shares of Ecometals?
So if Atomaers Chart gets higher Ecometals has more Money? Did they get higher ?
If Atomaers value raises about 10%....how much raises this the value of Ecometals ?
Thx alot
Comment by
ghislander on Dec 05, 2007 9:42am
Thank you very much Nicolai,that is great news for me,don't know where you got it from but will buy more if reaction after Correa/Ecuador speech/decision is not too bad for mining companies.
Suspect sp will fly higher but it will be worth the money.
Right now am already very much exposed at average 0,52 Cad.
Am particularly pleased to see that management is acting smartly...