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21.5¢ summit minerals limited

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Smacky1705

3,675 Posts.

446

09/06/24

13:22

Post #: 74236296
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Originally posted by dysone: ↑

Whoever is holding needs to convert before the expiry date (Sept 2025).

Hypothetical scenario:
Let's say SUM boosts to $2 off favourable results. Someone who has bought SUMO for 10c can convert to full SUM shares for the 25c price (10c + 25c = 35c total cost). Once the SUMO are converted to SUM, then they can be traded at the $2 price, so paying 35c for something worth $2.

This reason above is why as the SUM price goes up, SUMO won't trail it by exactly the conversion price (25c). A $2 SUM price would see the SUMO price around $1.50 - $1.60. This way, there is still an advantage to buying SUMO cause you can convert and still make money. If SUM at $2 has SUMO $1.75, then may aswell just buy SUM.

All just my opinion.

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And if you sell half SUMO and convert half with the consideration of selling SUMO is also a good strategy.

SUM Price at posting: 30.0¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 21.5¢		Change 0.030(16.2%)		Mkt cap ! $13.29M

Open	High	Low	Value	Volume
18.0¢	21.5¢	18.0¢	$278.9K	1.465M

Buyers (Bids)

No.	Vol.	Price($)
2	28333	21.0¢

Sellers (Offers)

Price($)	Vol.	No.
21.5¢	137807	2

View Market Depth

No.	Vol.	Price($)
2	159500	0.205
5	201350	0.200
4	277350	0.195
4	221250	0.190
3	272350	0.185

Price($)	Vol.	No.
0.210	24797	3
0.215	147802	3
0.220	50060	2
0.225	4000	1
0.235	21885	2

Last trade - 12.01pm 31/07/2024 (20 minute delay)

SUM (ASX) Chart

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