Fedexpress,
Did you think Xstrata and CVRD's acquisitions last year were expensive? Because at the time they paid more than full value and analysts could not believe the premiums that these companies where paying.
But in that time the price of Nickel has doubled and people are hailing their investments as strokes of genious.
What about Xstratas acquisition of MIM (which is just up the road)?
Point being is that the price being paid per lb is ON PAR with Urasia and that it does not take into consideration the future upside of new resources (U, Cu or GOLD).
You say that a resource of 10mlbs is not viable AS A SATELLITE? Pffft.....at CURRENT (and FUTURE) U prices it is.
Look at companies such as Arafura, MArathon, OmegaCorp who have only ESTABLISHED so far 3-4000 tonnes of U and are trading at similar premiums.
People will say - "but these companies are all going to expand on their resource, blah blah", and I say SMM is looking to establish a U PROVINCE and expand on these smaller resources also.
A company with fantastic potential.
TheGimp
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