EME, ENERGY METALS LIMITED

[nipper]

close to a million shares went through today, and SP up some 70% .... but that means what??


probably a reincarnation, into a tired old structure?

[wolverine]

Don't hold but saw this today...

First Uranium Trading Transaction, 150,000lbs natural uranium concentrates.

[wolverine]

EME uranium export permit approved.

[wolverine]

Energy Metals also advises that Mr Lindsay Dudfield will step down as Managing Director
effective 1 January 2011 and Mr Xiang, Weidong will take over the position thereafter. Mr
Lindsay Dudfield will remain on the Board as a Non-Executive director. The Board would
like to thank Mr Dudfield for his great effort in building and leading the Company in the
past and wishes him the best in his future endeavours.

[wolverine]

Just worth noting that EME have drill rigs in the Ngalia basin for weeks now.

There should be some results filtering through soon.

[wolverine]

PROPOSED PLACEMENT OF SHARES
On 16 June 2010 Energy Metals Limited (ASX: EME) announced that Camry
Development Hong Kong Limited (“Camry”) had agreed to subscribe for 19,472,773
shares at $1.02 per share to raise approximately $19,862,228 (“Placement”). In
subsequent announcements it was advised that the satisfaction date had been
extended to 30 November 2010 and that KangDe Investment Group (“KangDe”)
would be subscribing for the Placement.
Camry has advised that all prerequisite government approvals have been received
and the conditions of the Placement have now been satisfied.
As the nominee of Camry, KangDe will complete the Placement in accordance with
the Subscription Agreement. The issue price ($1.02 per share) represents a premium
of 137% to Energy Metals’ share price at the time the Placement was announced
and a 32% premium to today’s closing price.
Once the funds have been received Energy Metals will proceed to issue the
Placement shares. The proceeds of the Placement will be used to accelerate
exploration of Energy Metals’ projects in the Northern Territory, to fund other
opportunities and for working capital.

[wolverine]

Announcement out today, I believe the company is still confident this will all go through tomorrow.

PROPOSED PLACEMENT OF SHARES
On 16 June 2010 Energy Metals Limited (ASX: EME) announced that Camry
Development Hong Kong Limited (“Camry”), a wholly owned subsidiary of KangDe
Investment Group, had agreed to subscribe for 19,472,773 shares at $1.02 per share
to raise approximately $19,862,228 (“Placement”). The Placement was conditional
on the receipt of all necessary regulatory approvals from public authorities, with
subscription for the Placement to be satisfied by 30 September 2010.
Due to administrative delays Energy Metals and Camry subsequently agreed to
extend the satisfaction date for the Placement to 30 November 2010.
Camry has advised that KangDe Investment Group, the Parent Company of Camry,
will now replace Frontier Hong Kong Development Limited, the current nominee, to
act as its nominee and subscribe for the Placement.

[wolverine]

In Reply To: Varmi's post @ Nov 10 2010, 12:49 PM

Hi V

Switcheroo to JRL might be the way to play it....again.

[Varmi]

Impatient maybe? Not a mad rush. I was slow off the mark with getting into EME and it's run away from me...not enough to hang onto. Will wait and see what happens, may bump up to mid 70's. Otherwise I'll tip these out for a Cornflake packet trinket.

[wolverine]

80c last someone is a bit horny for them