I think plough is correct. I lived in NZ near the area for a couple of years.
The Morningstar algorithm says a fair value for the stock is 42 cents, but what do they know eh!
I do think it's market cap is inflated for the resource it has, and it will have to build an underground mine because there will be legal appeals against open cut, from the people I still know there.
I like the project though, if it was priced accordingly.
I haven't watched it closely recently, but I believe not long ago it was at $2.30 - if that was correct, then wow, what a time to sell some and be free carried eh! I hope that plenty of you took that opportunity.
All the best, and I might watch more closely now.
Gw
SMI Price at posting:
48.0¢ Sentiment: None Disclosure: Not Held
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