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There will be about 81million EMU shares (depending on IPO...

  1. lanek
    712 Posts.
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    11/09/07
    22:26
    Post #: 2798404
    There will be about 81million EMU shares (depending on IPO take-up).
    40million will come from the 1:2 free entitlement to IMA shareholders and about 41million issued at 50c ea in the IPO.
    Therefore capital raised will be a max of about $20mill.
    The EMU shares will be backed by this cash and the tenements. Some assays of >7%Ni have already been obtained.
    All things being equal, a value on EMU of at least 50c looks reasonable.
    IMO a good deal for the current IMA holders.
    Robin Bromby in Mon's Australian gave EMU a mini wrap.
    IMA Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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