UK 09:02 Tuesday, 6 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This has been a bad share tip. The macro scene has been unhelpful but whichever management team has been in charge EMED Mining (EMED) has not prospered. The latest revelation prompts us to apologise sincerely but to advise selling at 3.25p. Enough is enough.
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Comments
Steve
Tom, I’m surprised by your change of heart here and your reasoning. I’ve met with a couple of the top team, including at the recently (and now defunkt) minesite event. Did you have a look at the presentation and the webcast?
The money has been spend on real stuff like kit and repairing infrastructure which is ahead of budget and time. The bridging loan is unsecured and the three main players are in the final throws of sorting out the future finance. It’s a bit of a bun fight between them, and they are all heavily invested in the project. It’s now so close to being in production (6 months), and with an up trend in the copper price, there is no way will they allow it to fail, the question is the price of the support, especially between them. Dilution for sure (and that was priced in when you tipped it at 7p/8p) but I don’t see where you see any wipe out?, unless you know more than you have printed?
Andrew Kennedy
I thought the 30m loan was unsecured, if payment is not made the interest rate increases but would not in itself lead to a default
wildrides
Default or no default ………….. they are out of cash and the chinese will “ave it” out from under the current shareholders , just like Baobab and all the rest . They should have got the finance in place before starting the refurb work . Doing it this way was an invitation to highway robbers .Just plain poor management of shareholder funds . Unbelievable crass management that trusts large share holders/ lender groups and their agenda .
Steve
Tom, good on you for taking a direct approach and being willing to look again. Rationalism rules, I hope.