Hi, just getting onto the SCX EME story....AS I see it, the EME...

Hi, just getting onto the SCX EME story....
AS I see it, the EME drilling started on 24th April...

Looks like the SCX side may move further in the short term....

That Bigrily Project has high yield U308 Ore, EME has admitted (along with SCX) that they have been approached for parties "interested" in a stake in the project. THE CEO of SCX has stated a valuation of at least 7.5 mill for the 5% stake as of the Annual Report dated Dec 2006.

-The price of U308 has rocketed from about $80US to about $118US now.
-The labour party conference is on this weekend and Rudd confesses before the conference that they DON'T have the nos. to oppose the vote to OPEN the 3 mine policy. It is almost a certainty that the 3 mines policy will be dropped by monday.
- The company's capitalisation (@ 12c) is roughly only 6mill.
- historically, we could expect some drill results within about 3 weeks...
- now EME has admitted they may buy out the 5%...
- we still have Denison hovering in the background... the valuation for the 5% stake could go easily beyond 10mill, and with drill results coming in.
-roughly about 50 mill shares on the register.

Some quick calculations yield:
SP of 15c if valued at 7.5 mill
SP of 20c if valued at 10 mill

Many believe that in the current climate, it may go much higher than 10 mill valuation. With a market cap of 119Mill, this value is peanuts for EME. They do not even have to do the deal in cash, it could be partly share scrip. Densions are many more times that in size.

The key point is that this is all happening NOW... within about 2 weeks. ;) Interesting time to hold SCX and see how it pans out- share direction is?!?!? UP!!

nb. Please DYOR, these views are strictly personal.