As I said, after today, there are only about 38m new shares left from the latest placement @0.1c
The new oppies were issued @0.1cps, not free.
EDM with its collectible, escrowed shares, Dave East tenement, Zimbabwe gold mine and cash of $177K, it is worth more that 0.1cps for sure.
The only reason why you could buy at 0.1cps now is because of the 283m placement shares being onsold to market. Once it's exhausted, there will be 0.2cps and up.
PDI has enough cash to go it alone on the drilling, especiallly they are the drilling experts. Worse case is to give up another 12% to complete the current drilling program. With 18km strike length of gold in Dave East, even a 10% earn in is much more than 0.5cps, let alone 28%.
Only one thing that may deter buying at 0.1cps, that is bankcrupcy. But EDM has no debt, with cash and assets, so there will be a going concern for the next few quarters if need be. There may be a consolidation only if there is a new worthwhile project that needs large cash injection. For now, no debt is a blessing.
And 0.1cps is a gift.
Cheers
EDM Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held