Yawn... I was expecting a larger finish but I'm still not fussed at where we ended up at. A 60 odd percent rise in a hour in't to be sniffed at.
But I think the best is yet to come. We should see a slew of announcements over the next few weeks. First, SMM have to pay our costs. That will be 15 million in the bank in a couple of weeks. Then there'll be the compensation we're owed. I'm not sure how that will play out or the timescale but, if Judge Brown gets to set the compo, it'll be savage. 100 million+ . He's really not impressed with the way SMM have conducted themselves. I'd expect that within the next 6 weeks. The award. The cash may take some time to come through.
Then there will be an accelerated program of drilling to map out the extent of the reserves. I expect that wil be paid for by the court costs award and by the taking up of the outstanding options. Yeah, it'll suck seeing the sophisticated investors hoovering up cheap shares and adding more to the registry, but let's be real. We need that money to push forward on the drilling/mapping. We still don't know how deep this sucker goes. When *those* results start coming out, then we'll see some real price action.
I'm happy to wait until we hit 5 cents before taking out my initial investment and let the rest ride. If Ryan can actually get us into production in 18 months then I think we'll all be very happy.
Cheers
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Yawn... I was expecting a larger finish but I'm still not fussed...
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