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0.4¢ somerset minerals limited

Just go buy Pdn shares they are gona rocket

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Theojess1

1,551 Posts.

240

03/08/18

21:56

Post #: 34716476
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Originally posted by supergold ↑

Can’t see how this is a good deal for shareholders.
PDN in 2007 valued this company at over $1billion, at the time SMM had around $10 million in the bank and have since raised and burnt through approximately $26 million more.

Puts the $40 odd million takeover value into perspective....

I do understand the political environment in Queensland at present is anti uranium mining but this could change very quickly, especially if the uranium price starts to take off.
If this was to happen SMM would be worth multiples of the current price.

While PDN have some great assets, for now they also have a fair bit of debt and the cost of the C&M and eventual restart of their two mines. SMM holders will inherit these liabilities too in the event that this takeover goes through.

I for one would prefer for SMM to hold out for now and see what happens even if it means tipping a bit of cash in to keep things going.......

There is probably little anyone can do, but this is a very bad deal for all holders except of course PDN!!!

All IMO only.

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Just go buy Pdn shares they are gona rocket

SMM Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $4.123M

Open	High	Low	Value	Volume
0.4¢	0.4¢	0.4¢	$76.07K	19.01M

Buyers (Bids)

No.	Vol.	Price($)
2	3000000	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	9617595	11

View Market Depth

No.	Vol.	Price($)
2	3000000	0.004
21	15548616	0.003
22	21202166	0.002
16	48500203	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	9617595	11
0.006	7502456	10
0.007	3478571	5
0.008	1150000	2
0.009	511140	1

Last trade - 15.15pm 10/10/2024 (20 minute delay)

SMM (ASX) Chart

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