EDN - Elkedra Diamonds

[rub92me]

I've been following this one for the last month or so (not bought yet), looking to buy in to a diamond stock.
It is clearly in a downtrend the last 6 months, but I can't really figure out why.
They started producing last October, revenues are coming in. They've had some delays here and there, but nothing disastrous or more than you would expect from a start-up and yet the share price keeps getting hammered The last announcement from another sale that appeared within previous estimates, caused another sell-off, so holders appear to expect a lot more ... Anybody that knows their diamonds care to shed any light on this. Maybe it is a dog in sheepskin after all?

 

[alankew]

Rubme(!!!!)might be worth taking a look at what has happened with KOR and SAU with regards to their U spin off.I have posted the below message on the ARM thread
With the current demand for U shares and particularly U spin off(Korab resources,SAU etc) would imagine these will run a fair bit as people position themselves to gain priority allocations for the IPO.Also posted same on EDN and as same may apply-I hold all 3

 

[stockman]

IPO Uranium SPIN OFF will most likely be next week. If you want priority into this Uranium Float buy now to get priority allocations via EDN. I'm guessing today or Monday will be the last days according to my resources.

Good Luck

I'm in.

 

[rub92me]

Well, that would explain some of the games that we could see played out over the last week or so with the EDN price. Every time it looks like it is going to run, small parcels are dropped to peg it back. Despite this it is climbing up. I'm in as well, so watching with interest how things will unfold

 

[stockman]

EDN - Priority For Uranium Float

EDN IPO for its Uranium Float is expected early next week. Must purchase EDN to get priority. Float will be tightly held name is Uramet i've been told.

Good luck. Hopefully we get this one.

 

[rub92me]

Should get some of the benefits anyway, because in their previous announcement they said they had the intention to keep a significant stake of the new float, which would be returned to EDN holders (in specie) at a time to be determined.

 

[stockman]

Yer they are keeping a majority stake. I'm only in it for the float though I think the float will be up 100% + given where they are etc...

This is the way to get priority allocation I think it will be based on the number of shares you own or a minimum of 1000 shares.

Not too long to wait though which is good.

 

[Halba]

IPO Uranium SPIN OFF will most likely be next week. If you want priority into this Uranium Float buy now to get priority allocations via EDN. I'm guessing today or Monday will be the last days according to my resources.

Good Luck

I'm in.

Hi stockman. How many EDN will we need to secure a priority allocation? If Monday is the last day I better get in on Monday! Was out today.

 

[alankew]

Halba not sure if that info has been released but from shares.com(sorry Joe)there is talk of 1000/$500 being sufficient Think this is just guesswork though.

 

[rub92me]

That 'guesstimate' looks reasonable; it's typically around the $500 mark for these type of spin-offs...

 

[Halba]

Halba not sure if that info has been released but from shares.com(sorry Joe)there is talk of 1000/$500 being sufficient Think this is just guesswork though.

Agreed it is a good chance if you buy $1000 worth I guess.

 

[alankew]

I also think that getting into the parent company just after the ann of spin off is a good idea as you should get the benefit of othe people doing the same thing-recent one was KOR could of got in at about 70c(actually around 50ish at the time of the China/US worries)Shares are now at about $1.30.THR is another that seems to be benifitting from people buying for priority

 

[rub92me]

Announcement for spin-off as expected. Note they haven't picked the holding date yet for entitlement, but it has to be soon. Not sure that's entirely kosher, but hey I'm already holding, and I'm not selling until I know

 

[Halba]

Pro rata priority? Looks rubbish this one. Probably will be lucky to get $100 worth of the IPO.

 

[rub92me]

Pro rata priority? Looks rubbish this one. Probably will be lucky to get $100 worth of the IPO.

Just buy a million shares mate, it's a free market

 

[Halba]

Huh? Why would you put that sort of amount, thats $500,000.

 

[ta2693]

I think I will be out tomorrow. Pro rata, kidding me.

 

[ta2693]

Personally, I do not like diamond company because I know the new technology will put out these diamond company out of business. But this one is very special it has a lot of investment banks as major shareholders, like citicorp, credit suisse. fmr corporation. The cost of my holding this one is 0.545 very similar to the cost of those investment bank. Although I do not know why they love this one, I think must be a reason other than the uranium spin off.

 

[rub92me]

Synthetic diamonds have been around for a while, and they're not a threat just yet to natural diamonds. Plenty of time to make money on this one in my opinion.

 

[ta2693]

It looks like people with deep pocket love Pro rata basis very much.