End of Year report 2017, page-2

Today's rant is to focus on the stupidity of the market at large. There is a golden rule in business, never let your personal views get in the way of business!

In any business, your creditors are not always going to heed to your contract details and vice versa with your debtors. Unforeseen delays, business contract delays, personnel shortage due to sickness or injury, equipment breakdown leading to production delays. This list of problems can be endless, and sometimes can be exasperated by Murphy's Law. All the maintenance and safety procedures in place at times cannot cover unforeseen circumstances.

This leads us to the main issue with the market at large and the big players behind the major funds, especially those that are able to invest in ASX 500 stocks which are businesses going from speculative to revenue generating business with teeth in their industry.

Here is a list of stocks where the market is fully focus on the business in the knowledge their is no production until end of first or second quarter next year of 2018. This is no concern to Mr Market, as these shares are on a tear due to the demand of its commodity. Yes, I am talking about Lithium stocks such as PLS and TAW to name a couple.

Here is another super stock that has a market value 50% greater than SMN, was a former darling of the iron ore industry in AGO and has gone through a near death experience.

When you analyse where SMN is at in its business cycle, and compare it to other companies that are working very hard to build their plant and equipment in an extremely high capital intensive industry which requires tens of millions of dollars just to get to start up and millions in OHS, then you have to ask yourself how do you value all these online broking firms wanting your dollar for their Buys & Sell recommendation?

Is the market at large full of sooks? We all understand that management sold shares when they should have been more open and honest. But the reality is, they have still delivered on the Delta Airline contract for the installation of CVM technology on all 737 aircraft. Delta is now working to have CVM technology approved across all aircraft.
Does the market have any idea how massive this is in terms of the aviation industry?

This current testing and approval across all aircraft is like building that massive lithium or iron ore plant in readiness for production!

Delta Airlines current market capitalisation is approximately 40 plus Billion. Yes, 40 plus Billion dollars, one of the largest and most respected airline companies in the world. When Delta say "Jump" you bloody better jump!

So here we are, one great manipulation after another, one spooky la la after another. Who is pulling the strings, God only knows?

One thing I can say is this, Mr Alan Kohler from "The Contant Investor" even though I believe he has some doubts
With SMN management, at least he had the fortitude to bring Mike and SMN to the public forum and answer some hard nose questions which gave us long term share holders a great tick of certainty that all is progressing according to plan.

Bring on 2018.

GLTA