Have a look at the actual U reserves owned by SMM (Not even counting everything else) - Look at the quality of the reserves compared to even PDN. Look at the inferred reserves of MTN. Look at the inferred quality of MTN reserves. 90% of reserves in MTN are inferred.....
That is why it is and should trade at a discount to SMM and PDN.
Also I don't like company's that say look at me and why are they trading at more than me. I think the market is a little smarter than that longer term. Until MTN proves up its reserves with real holes in the ground it should not receive the rating it thinks it should have.
There was nothing in todays announcement that would change my mind. And as I said it actually pointed out why I own SMM and probably why I should own more.........
Also interesting the large shareholders in SMM put new money into the business at 70 cps just before an announcement. I wonder.... Maybe some good news on the way imho... Just a hunch....
SMM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
