+ + new positives: increase in prices + +

For starters, the market refused to side trade and a correction took place to 37.5 cents:

http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=au%3Asmm&time=8&freq=1

It was climbing Mount Everest anyway, so I don't worry too much about that topping out.
_______________________

The shares ought to be worth more due to 2 items of news to come through overnight:

1. Uranium increased by $US0.65 or $A81.86 cents/lb(0.794).

SMM has 70 mill lbs so the extra is worth $A57.30 mill.
It will try to double that resource by drilling this year.


2. The largest iron ore producer managed to get an increase of 71.5%. Say SMM could get 60% on the estimated $US35/ton price, an increase of $US21 or $A26.448/tonne.

SMM has 200+ mill tonnes of ore, so, the In Situ value increases by $52.9 mill.

From above, the total increase IN SITU is $A110.2 mill or $0.72/share. (152.9 mill shares).

So, all this from 2 news items last night!

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.