SUM 8.33% 22.0¢ summit minerals limited

Ann: Stallion Phase 2 drilling is scheduled for mid-May, page-14

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  1. 402 Posts.
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    I am only new to SUM myself, having heard from someone across at MTM. But the potential is incredible. It is not uncommon for REE stocks to hit $100 MC (rightly or wrongly). If you are on the winning side, it won't matter. The great thing about SUM is the incredibly low MC (around $3-4 million), but approx $3 million is cash. So paying pretty much nothing for the all assets and importantly (especially with news flows), drilling is now imminent. So that is a huge plus and excitment factor.
    Personally, I only hold heads at the moment in SUM, but only because there are almost no oppies available. Otherwise, I would have added oppies to get some extra leverage.
    Absolutely, I agree 100%, we could go to $100mc on good news. That really would be an exciting story! The heads would then hit approx. $2.50 per share (around 20 fold increase), whilst the oppies would probably hit around $2.25 (excluding any time value), which would be approx 40-50 fold increase (assuming 5-6 cents now - although very hard to get and hardly any available).
    SUM definitely has 'Silver Bullet' potential on those figures. Always risks of course, but in my opinion, definitely worth a shot.
    Hope we all do well!
    Last edited by MicroNova2035: 08/05/23
 
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