JRL will retain 10 million energy metals shares (according to...

JRL will retain 10 million energy metals shares (according to Fat Prophets report released in May).

“Jindalee has flagged that it will commence the spin out of Energy Metals around the beginning of July, including a capitalraising in the order of $3m (12m shares at 25 cents per share). This may be increased slightly to accommodate a cornerstone investor. Jindalee will retain around 10m shares, leaving Energy Metals with a tight capital structure (of around 22m shares) similar to the Jindalee structure when it floated.”

At 25c list price that’s 2.5 million.

Add that to the 3.2 million in liquid assets (incl cash from option exercise) and that’s 5.7mill just there…

At 34c, JRL mkt cap is around 10.5 million.

If Energy Metals SP spikes, and cant see why it wouldn’t given the current uranium hunger and the very tight cap structure it wil have, then who knows how much that 5.7 million will increase too.

This is all looking very interesting! That’s not too say I wouldn’t sell my JRL at the right price

Cdchi1