ok last post on this tonight, partially based on this new info...

ok last post on this tonight, partially based on this new info from Gasgoyne (i posted this on Sharetrader, hence the references to HC):

JRL: Jindalee is a uranium play

JRL is about to spin off Energy Metals, which has some EXCELLENT uranium ground...if you saw the grades you'd know what I mean...none of the .03% rubbish like DYL. Were talking 0.3-0.5% (and higher).

Anyway JRL being the low company its always been has hardly made a promotion of this...a few announcements earlier this year...and recently hiding a paragraph in an announcement that confirmed options were exercised. Dont think many people would have read that one [:D]

Anyway, JRL shareholders will receive priority access to this IPO...and given the performance of Hindmarsh on listing yesterday, who knows how high Energy Metals can go.

Now unfortuantely I dont know when the cutoff date to hold JRL shares is to get access to the IPO so buying JRL now is a risky bet...in fact someone on HC today posted that TODAY was the last day to be registered. This is quite disappointing since, although i already have an allocation (having bought options last month and exercised them, when the market was too dumb to realise just how cheap the option plus ex price was compared to the shareprice), i did buy more JRL sahres today (which is based on date registeded, will not be registed with the shareregistry until a few days.

So, point is, buying JRL shares might be a bit risky, since its most likely after the cutoff date, the price of JRL shares will drop. Not only might you be left with NO Energy metals allocation, you'll suffer a drop in JRL SP (albeit temporary imo as ill discuss soon).

Further we dont know what the 'priority allocation' will be...i've heard one EM share for every 4 JRL shares, but the same poster on HC reckons it may be restricted to 8,000 shares entitlement. (So this would also be slightly disappointing).

The good news for JRL holders though, even for those buying after cuttoff, is that I am led to believe that JRL will hold 10,000,000 shares in Energy Metals.

Now JRL At current SP only has a mkt cap of around 10.5 million. It has around 3 million in liquid assets. If you add the 10 million EM shares, at 25c issue price, thats 5.5 million in assets just in cash, and EM shares alone...

Now if you consider that Hindmarsh has basically doubled in price...if the same were to happen to EM shares...well the assets backing JRL will be pretty damn close to market cap (and that before considering its OWN projects).

The point of that is, if JRL drop after cutoff date, then i expect it will be a damn good buy before the EM listing date...of course this is subject to the uranium euphoria continuing to that date (fingers crossed).

Anyway do with this what you will, i was just bored and felt like ranting a bit.

Cdchi1