re: <--------big buyers lining up!!! :) "could be dummy...

re: <--------big buyers lining up!!! :) "could be dummy bids"

That's exactly what they are, in my view. Macquarie were bidding for 1m at 65 when the price was 67c,then they upped it to 67c when the pre-open was showing 68c, and now that the price was trading at 72.5/73 they bump it up to 71c...always below market, and they haven't got a single share yet.

They probably took 70c placement stock and are trying to prop it up for the clients they put into it.

SMM ain't going anywhere for the moment as there is no further catalyst.

The political situation in Qld is no different to when the stock was 4c, and the drilling result - even though exceptional - were no better than what we already knew.

I have done well out of SMM and very happy to have taken profits at 69c given the easy money has been made. I continue to follw them closely but have no qualms about getting out even if they keep going. But to shoot higher, it needs a fresh catalyst just at the moment.