I have no issue with AGS...I just believe EME the better long term option.
Not sure if you realise but both EME and AGS have been identical in terms of SP performance...ie BOTH have fallen from $2.80 to around 45c...so not sure why you think EME is more miserable than AGS? The liquidity is to be expected considering there are bugger all shares on issue and a large number of them are held by JRL and directors. This liquidity is also what caused the large drop in price of course, but the exact opposite can happen (remember is listed at 25c and where it went very quickly!).
As for knight in shining armor, if its going to happen, it will happen this year as JRL have already made it clear at their AGM (A bit silly of them to do that really) that they intend to try and realise their investment in EME and use the capital to make a franked dividend to shareholders as well as take advantage of distressed opportunities (of which there are plenty). The dividend is the reason I hold JRL instead of EME though of course it may never happen if they dont get the price they want....its a punt for me.
In fact, i noted this from a Dec 2008 research report:
"EME appointed Gresham June ‘08 to advise on corporate options for advancing the Bigrlyi project, which is ongoing with EME indicating interest from majors, notwithstanding the current financial crisis."
So yes a big brother may not be far away however I think a bit of stability in economy is required before a major would consider investing in the project. We'll see.
Cdchi1
EME Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
