I say we draw a line at 36 cents. Its a bit arbitrary, but I think SMM has fallen far enough. And with global investor sentiment becoming increasingly favorable to uranium stocks, now is the time to send a clear signal that SMM is moving up.
Yes, SMM is trading above its net tangible assets, but so are some other uranium stocks, and that's because the future of uranium stocks is looking bright, particularly with the upcoming restart of some of Japan's idled plants and China's aggressive construction schedule.
36 cents seems as good a point as any to make a stand. The price could easily fall very quickly on low volumes unless shareholders take a collective stance and say enough is enough.
We wouldn't have purchased this stock if we didn't see value. So I say hold on to your shares tightly, and wait for some more positive news from Japan.
MrHammond
SMM Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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