EPM Mining Ventures listed mid-year on the TSX. It's pretty hard to find info on them, but looks like they have a project similar to Lake Disappointment called the Sevier Dry Lake in Utah, where they are hoping to produce SOP. Their website is www.epmmining.com. From my research they are yet to start a feasibility study and it is their only project. Details of the project seem to be quite stretchy from what I've read up on the company and I do not know of the quality of the deposit, chemistry, environmental issues, weather conditions, infrastructure, native title and so forth.
I believe they have about 121,225,889 shares fully diluted which would include cash of approximately $60m after all options conversion. Current share price is $1.75 so fully diluted market cap is $212m. E/V is about $150m. They recently raised $16m at $2/share.
If RWD was to get LD over the line and to reach an E/V of $150m similar to that of EPM Mining Ventures, RWD would be about $2 a share. Then we have our other assets on top of that (Lake Mackay, Adavale, Carnarvon, Officer etc.). I'm not sure of many other juniors around the world other than Reward and EPM who have brine deposits that will be able to produce SOP. I know of Compass Minerals who but they are capitalised around $3bn last time I looked.
Just thought I'd share as I doubt many are aware of EPM, and it could be one to follow over the coming months.
Cheers
RWD Price at posting:
$1.03 Sentiment: LT Buy Disclosure: Held
