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5.26%

20.0¢ summit minerals limited

not unusual to see cross the market September sell offs,...

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Bigmarn

7,506 Posts.

1465

05/09/24

15:54

Post #: 75546065
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Originally posted by JandJ: ↑

Market is crazy - not just SUM which has no right to be down, even 2%. Is it risk off across the board, or thinking caps off ??

Now to business - that auger drill to collect 'bulk samples' is not looking at pegmatites, but rather the weathered ground surrounding them - what does that mean?
Is it because the soils might lead to pegs at depth, or even that the whole bloody valley is mineralised - to modest but payable grades?

I reckon SUM's brains trust would have sat down and had a really good thinkies about the geology, the metallurgy and the mining!
And we could be in for a big surprise.
I reckon - and really I know nothing - the augers will tell them where to do the trenching - the stuff from the trenches will tell them about the metallurgy (to concentrate the main products) and all that will tell them where to place the drills.

Weekly volume only about 2 mil. Would take a while to build a position - I rotated out of heads into oppies (and got caught with pants down) but as the heads appreciate the oppies will go for broke - only 3x leverage atm, but in a few weeks (months) that will be history dyor.

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not unusual to see cross the market September sell offs, wouldn’t worry too much, the June results not being released is more the concern

SUM Price at posting: 22.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 20.0¢		Change 0.010(5.26%)		Mkt cap ! $16.96M

Open	High	Low	Value	Volume
20.0¢	20.0¢	20.0¢	$30.20K	151.0K

Buyers (Bids)

No.	Vol.	Price($)
4	120570	19.5¢

Sellers (Offers)

Price($)	Vol.	No.
20.0¢	10638	1

View Market Depth

No.	Vol.	Price($)
4	120570	0.195
6	57388	0.190
4	87045	0.185
4	341666	0.180
4	62269	0.175

Price($)	Vol.	No.
0.200	10638	1
0.205	50000	1
0.210	55191	3
0.215	18221	3
0.220	64997	3

Last trade - 11.30am 09/10/2024 (20 minute delay)

SUM (ASX) Chart

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