eme: is oging ot be very interesting, page-29

re: going down to 40c hi pirra

you probly noticed the BIG drop in EME today...went ex options hence the drop...interestringly JRL is up...priced in already.

So basically JRL now has around 15 million shares in EME with a value of around 15 million if EME drpos to $1, though it has to pay 1.5 mill to exercise the options.


JRL, with all unlisted options exercised would have a market cap of around 15 million (equalk to its EME holding) based on my calcs above.

JRL also has around 3 million in cash...so i maintain it is significantly undervalued.

As for EME, i thought it would drop a lot more, maybe to 90c...maybe monday.

Cdchi1