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EMED 150% upside says Fox Davies after Red Kite deal

By Staff Writer | Thursday 13 June 2013

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.

EMED Mining (EMED) has announced a proposed US$15M Convertible Secured Note and the Allocation of Additional Off-Take Rights. The Notes carry a conversion price of 9p, a premium of 58% to the current share price and will be placed with Xiangguang Copper Company and RK Mine Finance (Master) Fund II (“Red Kite”) with XCG subscribing for $10M and Red Kite $5M.

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