Manfuzu
The strengths...as I see them are:
-roughly 10 -12 cents cash per share....approx 50% cash backing.
-Low cash burn rate because of JV arrangements.
-JV #1...Xtrata spending to earn 60% on Emu Lake. They've just drilled and found 6% Ni 300 metres from previous drilling. What lies between?
-JV #2...Mincor spending in West Kambalda to earn in 60%. Drillling 100 RAB (Rotary Air Blast) holes prior to Christmas. In short...Mincor are not mucking around here.
JV #3...The JV with Windy Knob is the only project at Emu's expense. The first round of drilling was interesting...but you should look at Silver Swan's (SWN...I think) announcement relating to their Austin discovery. They have high Cu showing and increasing towards depth and only 250m away from EMU/Windy Knob ground. On top of the high copper grades there is also banded iron formation and the real possibilty for U308 and Au.
It's all good...IMO.
nice nickle hits., page-4
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