1. SMM. From post 657295 on this thread: http://www.hotcopper.com.au/post_thread.asp?fid=1&tid=214483#657295
The value of the U resource (after deduction of 20%) is about $A54.56 per $A1 market cap.
The content of U =1.87 lbs/tonne. Because some 9 mill options will be converted this year, I am going to adjust the $A54.56 to 176/185*$A54.56= $A 51.9
Total: 80.96 mill lbs; deduct 20% (See SMM), leaving 64.76 mill lbs U, worth 64.76 mill *US29.5/0.77=$A2481 mill. (U=$29.5; $A=$US0.77).
There are 400 mill shares and 33.5 mill options. Forget the options.
Martket Cap: 400*$1.58=$A632 mill.
Per $1 market cap, the value is 2481/632=$A3.93 compared with SMM's $A51.9
++++++++++++++++++++++++++++
Notes: PDN. Is located in 2 African countries. I am not sure if any royalty or participation will occur.
Each deposit requires a separate plant.
They are well advanced with their activities and are ahead of SMM. They will add some extra resources given time.
SMM Doen't have the approval to mine. Has 3 proven deposits which can be served by one plant. Is now drilling another 4 deposits and is trying to double production.
Both SMM and PDN are relying on increased Uranium prices.
Both are supported by International investors.
To be audited.
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
SMM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
