Last year they hoped to double their resourse to 150 mill lbs; if so, at US$41/lb and A$=0.74, we get a total of $A 8,310,810,810 (About $A8.31 bill) InSitu.
However, the U price is increasing.
1. INSITU VALUE PER SHARE. There are 188 mill shares. thus the inSitu value per share is A$44.20 and rising.
That would be considered to be a good number with a premium for increasing U prices.
2. MARKET VALUE PER A$. As to market value, the share price is $1.49 or total market value=280.12 mill. or per A$ spent: $29.66. another good number.
GOLD VALUE: 10.25 mill ounces. Cost Per Ounce $27.32, an excellent number.
Summary: I need to get more data re thoughput and costs, but the situation looks good.
Assuming approval to mining was given, I would allocate a higher P/E to obtain the market price.
I am familiar with SMM, having first bought in for 12 cents/ share on 20 Oct 2004, but had to sell most last year due to stupidity of the QLd Govt. Bought back for 87 cents and hoping to stay with it.
Subject to audit,
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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