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According to the company's president Michael Hawkins, "The transaction with Areva provides an immediate return of outstanding value to the shareholders and the capital required to continue the Company's aggressive exploration, acquisition and growth strategy. The Mongolian transaction was unique in that East Asia retained the most advanced of its uranium portfolio." With respect to the properties sold a company letter to shareholders stated "The majority of the sale properties were acquired less than 12 months ago and your Company had expended less than $2 million on their acquisition and exploration."
The company's closing share price on October 16, 2007 before the dividend payment was $2.80 Canadian. Today the company's share price hovered around $1.87 Canadian at 11:15am PST.
Further information is available at the company's website. East Asia Minerals Corporate Website.
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