SMM 33.3% 0.2¢ somerset minerals limited

Ann: Tempus Elizabeth Assays up to 28.1 G/T Gold over 28.5M, page-160

  1. 208 Posts.
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    I am relatively new to the stock but it does seem pretty evident that this is way undervalued at 15M MC.

    In the short term we can expect some drill result and an updated Jorc at Elizabeth. With 129 Additional drill result which have be for the most part very good and some time extremely good, 28g by 28M we will mostly likely at the minimum Triple the Jorc resources. Please correct me but I believe in the webinar they mentioned that the original Jorc was only with 40 ish holes.

    In the mean time management are methodically working through each step of the processes to have a viable project.

    1. We have a clear resource which is close to surface with multiple offshoot within mining distance of one another few hundred meters.
    2. Low start up cost as we already have a processing place that will with little adjustment will get very good recoveries of the Elizabeth project ore. Management has tested and confirmed this. Processing plant is also within an economical distance so it isn't a pipe dream to consider using it.
    3. Have already started working with the local stack-holders to allow for easier approval.
    4. Management have stopped spending money on the other project to limit expenses. This shows they are confident in the Viability or Elizabeth otherwise they wouldn't risk the reduced news flow.

    My only concern is the do spend a bit of cash. We should be able to get to the Jorc with no CR and from there have a very clear picture on the resource moving forward.

    For people who have been in the stock for a while could you please let me know what your experience has been.

 
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