wegian,
SMA has been "struggling" in the very treacherous Chinese market for over a decade.....We can comfortably say it is a veteran player with a distinctive edge over newcomers....Mistakes made & valuable lessons learnt.
It now seems to have established a solid base for growth.
It has achieved a couple of milestones necessary to do business in China.....1) have local partners...2) Bill via Chinese institutions......Otherwise the venture is doomed to fail.
Geoff Raby & Ian Tang are most welcome addition to the board.
Zhenya's involvement is also reassuring (he invested $700Ks....He is far from gullible)
The resignation of John Forsyth bodes well for good governance & accountability.
It is only in the last couple of years that SMA is getting its act together.....It is some achievement to establish a foothold in a market not renowned for being welcoming to foreign enterprises...let alone a miserable one always strapped for cash......A very tiny slice of this gigantic cake is well worth a punt.
One last observation....SMA is in a very bullish sector ....Have a look at MBE ,MKB ,MNW ( I hold all of them...Not promoting any).....Just examine their chart patterns ....Never ignore a bullish sector just waking up from a decade long sleep.
Some are complaining about lack of profits or slow progress....In the meantime they are comfortable "investing" in penny dreadful/wealth destructive resources outfits.....To their eyes some dogs are prettier than others.
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