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EME - Energy Metals

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there is little mystery of the next step. get the numbers plugged into the scoping study and keep moving to pre-feasibility etc etc as you correctly state.

nevertheless the clue is in the appointment of Gresham Partners. they advised SMM (as far as i am aware).

clearly EME is for sale but it is important that management continue to move things along with another drilling season firming up the resource at Bigrlyi and drilling the 100% owned Ngalia ground if we are to get a full price.

LD indicated a while ago scrip would be acceptable from DML (with a larger premium than he would accept for cash). presumably PDN scrip given their producer status now would also be considered. it is liquid enough and easily tradeable for and it might provide roll-over relief.

ultimately there is a push for EME ownership to be resolved or the stock to be in-specied out to JRL holders . either way (barring a markets melting down) the push is still up.
 
A lot of uranium stocks are rallying lately. Many of fund managers start to find value in uranium producers such as ERA and PDN...other hopefuls, smaller explorer companies with proven assets such as EME follow suits for its increasing takeover appeal.

The logic behind this is uranium is the best available alternative energy to oil to satisfy the world's demand.

Uranium spot price is moving around $60 at the moment. It has been $140 in the past....
Assuming the demand of uranium increase and the uranium market maturing like other commodities...if we just use the average of $90-$100 spot price, many uranium companies are undervalued by at least 30-40%.
 
Bigrlyi updated scoping study from Paladin's last quarterly report.

I was reading Paladin's last quarterly report and came across this:

"An in-house Scoping Study was completed by the manager. Assumptions used in this Study include a U3O8 price of US$75/lb, a V2O5 price of US$4/lb and an Australian dollar exchange rate of US$0.75. Other key assumptions include the results of the metallurgical tests and a treatment rate of 0.5Mt per annum and U3O8 and V2O5 recoveries of 90% and 50% respectively. The Updated Scoping Study indicates that under the assumed conditions the Project is economically viable and has a potential to produce in excess of 15.0Mlb U3O8 and 13.7Mlb V2O5 over a ten year period, with some additional product possible from underground methods."

The original scoping study said this, cut and pasted from the EME website:

"An initial Scoping Study based on the previous (March 2007) resource indicated the Bigrlyi Project has the potential to produce 8.4 M lbs of U3O8 and 7.0 M lbs of V2O5 over a mine life of 8 years. This new and substanitally larger Bigrlyi resource will be re-scoped once the results of metallurgical testwork (currently underway) have been received, with an expectation that the Bigrlyi Project will move to the Pre-Feasibility Study stage in the second half of 2008."

So its using about double the production over a period of 10 years rather than 8 years. I am, however, disappointed that Paladin "reported" on this prior to the operator, Energy Metals. Will look forward to seeing a fuller release in the coming days.
 
there was some angst at EME over this unauthorised release by PDN.

Borshoff apologised for this 'slip'.

i believe we will have the full scoping study released monday am.
 
I am sure there was major angst at EME. I am just an ordinary shareholder and saying I was "disappointed" in my previous post really was an understatement. But looking forward to some good reading in the next couple of days!!!! Hopefully, Paladin will not block release of any of the detail in the updated scoping study. Especially after their premature release that outlined some numbers.
 
From reading past releases and reading the last Paladin report, Energy Metals Limited is now drilling at Bigrlyi again. A release outlining the new campaign would have been nice. I am also under the impression that drilling would be happening at the Cappers Prospect (100% EME, too!). If so, it will be good to see them drilling on their 100% owned tenements in Northern Territory.
 
Ignored uranium miners worth a look
THE DIRT: Robin Bromby | July 21, 2009
Article from: The Australian

 
EME and JRL (Parent company) are in trading halt today! I wonder if it is a takeover announcement? Let's hope so

Denison to draw the first blood in the takeover saga and PDN with a counter offer valuing EME at $2/ share ****wishful thinking****
 
I have positions in both EME and JRL (as well as Denison), so I hope the previous speculative post on a Paladin/Denison takeover battle happens - though I doubt it. What if its a corporate recapitalization with a Korean or Chinese partner taking a major stake? This largely happened earlier this year with Denison itself and KEPCO (Korea Electric Power). Denison is, as a result, in a stronger financial position than it was. So my speculation is we may see a recapitalization with a Korean/Chinese partner. If not, a takeover would be my second hunch. I would be happy with either, providing producers were the parties involved.
 
P1c

I reckon its either a EME TKO or JRL have managed to find a buyer for their stake. The latter was pretty much flagged in JRL's chairman's address in Nov 2008 so whether its now or not, it will be at some stage.

BJr
 
no exciting news so far...only a substantial shareholdings from a super fund/ trust...
I guess more news are coming since the suspension is going for one week and substantial shareholdings doesn't require suspension.
 
Seek$ucce$$ said:
no exciting news so far...only a substantial shareholdings from a super fund/ trust...
I guess more news are coming since the suspension is going for one week and substantial shareholdings doesn't require suspension.
Click to expand...

Seek

I think that particular substantial shareholder notice might suggest a little more than might be apparent.

The notice is a JRL director , Mark Scott, moving his EME shares from a private company to his 'pension' fund. Just a few months ago, he did the exact opposite.

One reason to move assets to your super fund is to take advantage of lower tax rate on capital gains.

Personally I think this pretty much spells out that either EME are getting taken over, or both JRL and the director have elected to sell their shares.

Just a guess, and that was my opinion when the halt was announced, but the substantial shareholder notice further reinforces my opinion.

Either way, we'll know shortly.

BuffetJr
 
Well, still waiting with baited breath!!! Hopefully, we will get a release imminently, now 7+ days since the suspension.

I did look at the Energy Metals website. I may be mistaken, but I think the descriptions of the Northern Territory and Western Australia projects have been updated since the suspension kicked in. Maybe I am reading too much into this, but why do a website update if its a takeover? I am leaning towards my initial speculation that it will be a substantial private placement/recapitalization with an Asian partner. I would be happy with this outcome. IMHO EME has very interesting projects.
 
CONFIRMED!! A takeover $1.02 bid from a Chinese company for 70% of the company.
I really think PDN will not sit still. They have HUGE stake in Birqlyi to just keep quiet, let's the auction bidding begin!!

I own shares in EME
 
I must admit I find this an intriguing offer. I also don't expect Paladin to sit on the sidelines. And remember that Denison has a stake in EME, too!
 
PDN trading halt! raising money to takeover EME??

I am now really excited with the possibility od Denison enter the foray
 
I have held EME and JRL for pushing 3 years so its nice to get this excitement!!!!

I will believe Paladin is bidding for EME when I see it. I will view PDN's trading halt as a coincidence until I see otherwise. But in my gut its hard to believe it is.
 
Thanks for the heads up Rock.

Didn't these boys ride the current U wave today

Quick glance .... they actually have a lot of cash ($16 million) ... White Flag.

Largest Share holder China Uranium Development Company Limited who hold over 65% of the Co. .... Red Flag!

China Uranium Development Company Limited is a wholly owned subsidiary of CGN, a leading company in clean energy and nuclear power technologies in China and world-wide .... Sounds good, but ..... Red Flag for me!

The Red Flags out weigh the White Flag for me.

That kind of percentage Chinese "interest" opens up manipulation possibilities in my suspicious mind.

Take today's 70% rise and be happy would be 'my advice to me' if I had been involved.
 
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