I have owned smm for a long time and believe the current price probably includes a resource upgrade and a positive vote in April. I stay in it for a takeover - if you look at the price pdn paid for vul - vul had a half share of proven resource of 57mlb with prospects of plenty of expansion - the price represented about 10% of the retail value of the resource at the time ($174m / 28mlb ) - 10% of smm 's resource at the moment would be about $750,000m which runs out at $3.75 per share - about right to market - but if the resource upgrade comes through at 150mlb then its reasonable for takeover purposes to talk of $7.50 with plenty of future upgrades to come. Also vul was seen as very cheap for pdn and pdn share price has since doubled. IMHO - just an attempt to further the debate
SMM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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