SMM is in a win win situation. If Beattie is defeated then a substantial re rating for Summit immediately. If he holds on then it is just delaying the inevitable for a little longer. Why ?. Consider this : Beattie is on record saying he will be guided by Fed Labour policy. Bill Ludwig from the AWU is on record saying he has the numbers to change the policy. Beazley would not nail his colours to the mast unless he was sure of changing the policy.Adefeat would be humiliating. Neal Froneman [CEO of SXR Uranium ] has just been quoted in a mining journal that when he was talking to S.Australia's Minister of Resources recently he was told the policy is going [99%] certain. Ijust want to see some drill results and a resource update ,because as Gerry has said [ refer previous posts ] at these levels ,with what is known and what is the likely potential its a cheap takeover target. Bottom line .. its drifting now but would not take much to fire. IMHO
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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