Posted 13 March 2006 - 09:35 PM
Energy Metals and Quincy Energy to merge
13 Mar 2006 at 04:00 PM EST
Vancouver - Energy Metals Corp. (TSXV:EMC) and Quincy Energy Corp. (TSXV:QUI) have agreed to a merger that will see the junior uranium miners combine operations under the Energy Metals banner.
The Vancouver companies said Monday that Quincy will become a wholly-owned subsidiary of Energy Metals, with shareholders receiving 0.2 of an Energy Metals share for each Quincy share.
''The business combination with Quincy is the next step in Energy Metals' strategy to become one of the largest U.S. domestic uranium producers and resource base holders in the public sector,'' Energy Metals president Paul Matysek said in a release.
Energy Metals also said it has completed its previously announced acquisition of Standard Uranium Inc. (TSXV:URN) and Standard shares will be delisted from the TSX Venture Exchange.
Quincy has uranium projects in Arizona, Wyoming, New Mexico, Oregon and Ontario and a portfolio of prospective gold properties in the continental United States.
Energy Metals has uranium properties in Wyoming, Texas and New Mexico.
The spot price of uranium oxide just hit $40 per lb. It was right about $10 as 2003 began, so this is a big bull. The above merger and acquisition have five shares of Quincy getting you one of Energy Metals, and one share of Standard being exchanged for 0.64 share of Energy Metals. I've got some of both Quincy and Standard, and the deal looks good to me. EMC.V is a nice-looking chart. Quincy was the weakest of the three, and Standard more than tripled since September -- I'm tickled pink to exchange it for EMC at this point.
This was a strong day overall for the U stocks I watch. NWT.V and PDN.TO look really strong right now. There are many others that are in horizontal consolidations within large bull moves.
Posted 20 March 2006 - 04:27 PM
I don't why this one popped up like this, but it's certainly a nice swing higher. The picture-perfect uptrend continues.
Posted 20 March 2006 - 04:44 PM
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
Posted 20 March 2006 - 06:01 PM
This correction may not be over, but isn't that a sweet chart? I'd owned it for a while, then sold it last fall, making a nice exit. Wasn't paying attention later, though, and missed some pretty clear buy signals in early Nov., missing that fast rally from $25 to $40.
The way that weekly MACD is looking, CCJ might have to really pause here. $33 or just below has been good support thus far, but I wonder if a push for $30 or even $28 is in the cards. It had been looking good for an "ABC" completed correction but today's action brings it into question. Going below last week's $32.80 low would mean a more complex structure is forming.
For a big, senior uranium producer, Cameco is hard to beat. All that rich, rich ore.... I think it pays to look at the big Australian companies too.
Posted 04 April 2006 - 12:42 AM
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Edited by hiker, 05 April 2006 - 12:08 AM.