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23.0¢ summit minerals limited

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glossy

1,351 Posts.

351

24/07/24

14:20

Post #: 74894766
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Originally posted by $$$$$$$$: ↑

Bulk Sampling and Drilling approval is expected within weeks:

From Yesterdays 23/07/24 Announcement:

• The Company continues to focus its efforts on an expedited initial drilling program

to validate the quality of the Project and anticipates receiving permits

for the proposed trenching and drilling programs in the next few weeks

• Summit is now fully funded for its proposed drilling campaign following its recent Capital Raise.

So take ENR for example,

Which hit around $272M MC on drill results,

Gaining 94% or more in a day,

then going on to a $400M MC.

ENR now has a $261M MC

SUM has a $14M MC

Meaning SUM has to rise 18.16 times is current MC,

To have the same Market Cap as ENR has now,

Or 27.8 times to reach the $400M MC ENR went on to hit.

That gives a lot of potential upside.

SP would be around $3.50 to $5+

That also explains options trading at a premium.

Peers rose significantly on Drilling,

As well as on Drill Results,

One would expect the same for SUM.

So that's really the point plenty of News and

Drilling on the way that should see a significant re-rate....

Expand

Thanks for your reply $$$$$$

SUM Price at posting: 18.5¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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(20min delay)
Last 23.0¢		Change 0.000(0.00%)		Mkt cap ! $19.39M

Open	High	Low	Value	Volume
23.0¢	23.0¢	21.5¢	$53.19K	239.0K

Buyers (Bids)

No.	Vol.	Price($)
3	46317	21.5¢

Sellers (Offers)

Price($)	Vol.	No.
23.0¢	29483	3

View Market Depth

No.	Vol.	Price($)
2	26317	0.215
5	49761	0.210
2	15000	0.205
5	45950	0.200
1	150000	0.195

Price($)	Vol.	No.
0.230	29483	3
0.240	17024	2
0.245	14500	1
0.250	16000	1
0.255	110819	2

Last trade - 14.12pm 03/10/2024 (20 minute delay)

SUM (ASX) Chart