OK here goes......
Some brokers I believe are manipulating valuations regarding the PDN v SMM debacle.
Most Accurate Resources:
Valhalla (50%)
- Indicated 37.4mlbs
- Inferred 19.6mlbs
Skal 11mlbs
SMM at this stage has 50% of these: 34mlbs
The $6.20 offer values summits EV/LB at $29lb
The $7.20 offer values summits EV/LB at $34lb
(URAsias takeover multiples were $31.61lb)
These valuations peddled by some brokers are misleading. They fail to mention a few things:
They exclude the latest announcements that there are inferred resources (independent third party analysis) of 8mlbs at Andersons & Watta in the MtIsa Deposits Area.
They fail to mention and are assuming that SMM is unsuccessful in its legal proceedings against PDN.
They also fail to properly consider:
Other 100% Mt Isa deposits (excl Andersons and Watta): Summit also owns uranium exploration tenements at Mirrioola, Bikini, Tjilpa, and Warwai. In addition, Summit indicates that it also has access to a further 15 known uranium mineralised prospects within its Mt Isa Uranium Project. Isa South: 9 contiguous tenement applications covering 2,140 sq kms along the Mt Isa Paroo fault.
Georgina Basin: 12,000 sq kms of the Georgina Basin to the west of the Mt Isa Inlier where they are conducting greenfields uranium exploration.
Isa North: Summit has commenced drill testing for a number of base metal targets in the area.
May Downs: Potential gold mineralisation along the Golden Fault structure.
Constance Range: Summit’s Constance Range project covers 1,480 sq kms. Summit has announced its intention to spin out its Constance Range iron ore, phosphate and base metals assets.
Mt Kelly: Near CopperCo’s Mount Kelly copper gold discovery, 95 kms northwest of Mt Isa.
Also on a final note: PDN should be trading at around $17per share at $34lb EV. But I guess the market is not completely sold on PDN as:
- 52% of their resources are Inferred.
TheGimp
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Mkt cap ! $4.123M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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20 | 6178578 | 0.3¢ |
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Price($) | Vol. | No. |
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0.4¢ | 2443631 | 4 |
View Market Depth
No. | Vol. | Price($) |
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20 | 6178578 | 0.003 |
20 | 17414166 | 0.002 |
15 | 41300203 | 0.001 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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0.004 | 2443631 | 4 |
0.005 | 8565116 | 14 |
0.006 | 4359766 | 7 |
0.007 | 3478571 | 5 |
0.008 | 1000000 | 1 |
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