Subject: re: the big drums are starting up for smm Stock Code: SMM - SUMMIT RESOURCES LIMITED Posted: 25/02/07 14:12 Posted By: stolwyk Hotcopper Radio: SMM on BoardRoom Radio Post #: 1592090 Views: 209 Voluntary Disclosure: Position Sentiment: Buy The big sound of these drums is shaking Mt Isa.
They will be drilling for years to come, I think, considering additional Mt Isa tenements acquired.
I believe that the present SMM price does not yet correspond with the QLand Govt *not* allowing mining.
Consider that the In situ value is increasing all the time, regardless of mining going ahead or not. The latest US$10 or AUS$12.65/lb spot U price is worth AUS$6.26/share!
(Based on fully diluted 202 mill shares, assuming 100 mill lbs U in situ and $AUS=US$0.79)
And that is just a US10 rise per lb.
And the share price is AUS$3.95. Ridiculous IMHO.
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.
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Date 27 Febr 2007:
From the post above:
"Consider that the In situ value is increasing all the time, regardless of mining going ahead or not. The latest US$10 or AUS$12.65/lb spot U price is worth AUS$6.26/share!
(Based on fully diluted 202 mill shares, assuming 100 mill lbs U in situ and $AUS=US$0.79)
And that is just a US10 rise per lb".
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Now consider that the U price =8.5 *10 US$.
That makes it an equivalent 8.5*AUS$6.26 or AUS$53.20/share.
And there are more price rises to come, IMHO. Be sure to always remember the latter!
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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