For starters, the market refused to side trade and a correction took place to 37.5 cents:
http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=au%3Asmm&time=8&freq=1
It was climbing Mount Everest anyway, so I don't worry too much about that topping out.
_______________________
The shares ought to be worth more due to 2 items of news to come through overnight:
1. Uranium increased by $US0.65 or $A81.86 cents/lb(0.794).
SMM has 70 mill lbs so the extra is worth $A57.30 mill.
It will try to double that resource by drilling this year.
2. The largest iron ore producer managed to get an increase of 71.5%. Say SMM could get 60% on the estimated $US35/ton price, an increase of $US21 or $A26.448/tonne.
SMM has 200+ mill tonnes of ore, so, the In Situ value increases by $52.9 mill.
From above, the total increase IN SITU is $A110.2 mill or $0.72/share. (152.9 mill shares).
So, all this from 2 news items last night!
Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.092M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $310 | 103.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 15261001 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 629762 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 14761001 | 0.002 |
16 | 44300702 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 429762 | 3 |
0.004 | 7764584 | 9 |
0.005 | 4723155 | 8 |
0.006 | 1704400 | 3 |
0.007 | 3478571 | 5 |
Last trade - 14.29pm 16/08/2024 (20 minute delay) ? |
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SMM (ASX) Chart |