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Emu NL is the new name for Emu Nickel

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Emu NL (ASX: EMU) is the new name for the company formally known as Emu Nickel, following the Australian Securities and Investments Commission recording the name change on Monday. The ASX code remains unchanged.

Greg Steemson remains the managing director of the company and holds voting power of 17.48%.

Just last month the company announced that the first diamonds recovered at the Superkolong plant at Kimberley, South Africa, were to be placed on tender.

All of the diamonds presented at the tender were sold realising a significant increase in the average per carat price over that received in 2012 due the number of high value stones.

Diamonds totalling 3,046 carats were sold at an average price of US$158.60. This compares with the average price received during 2012 of US$102/ct.


Analysis

Emu has $0.9 million in cash, with the current market cap. around $2.5 million based on 34.6 million ordinary shares. There are also 19.9 million contributing shares.

Emu's net operating cash flows for the December quarter were just $56,000, following the receipt of $48,000 in interest, with costs totalling $104,000.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Emu NL

Price: 0.038 AUD

ASX:EMU
Market: ASX
Market Cap: $6.01 m
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