today's announcement simply reaffirms how undervalued the EDN diamond project is.
$1.5m per month in sales - even @50% margin that's $9m pa profit or a P/E of less than 4 !!!!
And that is giving no value to the U properties.
This is a FAR better proposition than KOR was 9 months ago ie KOR had/has no cashflow in the remaining entity once the U assets are spun off.
PS. I wouldn't be expecting to get any IPO through brokers. The trend is that their best customers snaffle the lot. Only way to be in on the float will be via EDN shareholder allocation.
EDN
elkedra diamonds nl
