SUM next WA1, page-283

30c is not even $20m market cap......it just sounds big but it isn't.

47,657,127 shares currently on issue:

@ 18.5c = $8.81m Market Cap
@ 20.5c = $9.76m Market Cap
@ 22.5c = $10.72m Market Cap

@ 25c. = $11.91m Market Cap
@ 30c. = $14.29m Market Cap
@ 35c. = $16.67m Market Cap
@ 40c. = $19.06m Market Cap

Finally we breach $20m Market Cap at 50c! = $23.82m Market Cap

Which is still a cheap market cap price that most look for when wanting to enter these stocks. 99% of mining stocks I've ever been on have moved to or started from a $15m to $30m market cap level even before acuiring a project, but they all tended to have at least 500m shares on issue if not over 1-billion. Where as SUM has a huge advantage of only having 47.65m.

Market Cap not Share Price is the focus, it moves from 18.5 to 22.5 to 18.5 in minutes because there's so little shares on issue and creates extra volatility but the market cap barely moves.

Not sure why some are fixated on 30c though, it's a random number and random market cap value as noted above.

It would be pumping to say this will reach a $50m-$100m market cap soon before any results; at which the share price would be $1.00 to $2.00 at those market caps with the current shares on issue. I've been on stocks though that went from a $12m market cap to $70m because of market bullishness and they had nothing more than nearology, so $20m market cap isn't a tall ask for SUM to get to.

Obviously there's still 6m shares to be issued to Sandro for the acquisition of this project and then as they've mentioned in that General Meeting notice, the company is looking for further acquisitions of Rare Earth projects in Brazil, so good chance they'll raise funds for that but that's a given and shares issued will increase so the figures above will be different, not drastically but $20m market cap may be at 35c to 40c level for example.

People really need to stop focusing on share price and look at the market cap value.