No doubt about it. Sentiment is only just starting to swing in its favour.
Irresepctive of the current political policies in Qld, the overall geopolitical & sovereign risk of Aust. is much lower than Africa.
I would suspect the Yanks have even begun to buy SMM seriously just yet. They would all be doing their numbers to verify what Dines has written in his newsletter. "Is what he says true?!?! Does this company REALLY have that big a resource?!...Holy Cow...it's true, they do!!!!!"
Then....they will start buying seriously. This stock will go seriously nuts at some point and then we'll really see some volatility as the day traders try to make a buck.
But their are only 177m shares on issue...less those "locked up" with the CEO (approx. 12m); Acorn Capital (approx 13.5m) and Firebird Global Fund (approx. 15m).
Its going to be volatile...but the True Believers should hang on. In terms of price appreciation, we could be seeing Tech Boom type price rallies ala SNX 40c to $18; Davnet 12c to $5; Solution Six, Sausage Software etc etc.
Summit could seriously push through the $2 barrier w/o any change to the Qld mining policy. Eggars has been getting offers for the company every week for 2 years - according to an infomred source of mine - but he is a very independent operator and he has resisted all offers.
Summit's time in the sun is almost upon us.
The 40,000 I'm playing around with for a short term trade is a token compliment for the position I hold in my Super Fund.
Its far too early to sell this one just yet.
Coop
SMM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
