# SMO - SMC Gold



## 56gsa (23 April 2006)

Interested in anyones thoughts on this one.

SMC Gold producing copper from Chilean deposits - main resource is 10.7Mt @ 1.43% Cu & 14g/t Ag and claims this will increase based on recent drilling.  

CVC (venture capitalists) have been selling down their holding, and still some large sales at 10.5,11,11.5.  

The SPP couple of months ago (which I got in on) was @ 8.5, so once CVC and profit takers have sold out where to then?

any thoughts?


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## 56gsa (24 April 2006)

Another high volume day - trading 10.5 to 11

Be interested to hear from others whether they think this could be SPP profit takers (and maybe CVC still) selling and things may go higher after they have left the market?


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## 56gsa (29 April 2006)

found resistance @ 13, if it can breakthru 13.5-14 then blue sky?

Qtrly report - Cu production up and now producing at profit, cash in bank $2.4m - exploration, more results & new updated resource finalised in May.
BNB helping SMO look for JV investors for exploration of chartres twrs gold areas.


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## Impala (14 May 2006)

Don't give up on this one.  It was given a near future value a while back by a sound broker of 15c - and that was prior to major upwards movement in gold and copper prices.   The future growth in cash flow is fairly predictable compared with many other mining stocks with comparable market capitalisations.  They did stuff up a little with their mining equiment in Chile, but seem to have righted that now based on latest quarterly report.  There's been a change of senior management there too. I would be a bit concerned about VC co selling out, but being ex-VC myself, I'd wonder what a true VC is doing investing in such a company.  One of the larger shareholders is a Sydney guy with interests in a couple of North American mining ventures - find it kind of intriguing that he's invested several million dollars in SMC.  What we need is to get some people to take a long term view of the company, soak up enough shares to get rid of at least the current crop of day traders, and then I think we'd see better share price appreciation.  I don't think this one is another Oxiana or PNA, but there should definitely be 50-80% in the medium term, subject to reasonably high copper and gold prices continuing - especially as the company is apparently unhedged at present.


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## 56gsa (3 August 2006)

Announcement re increase by 50% of production capacity could see this test 13 cents again, altho volume not that strong at present


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## chris1983 (3 August 2006)

I Have this stock and they have been very solid.  Operations seem to be progressing niceley.  Good hold In my opinion.


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## Impala (14 August 2006)

ABMN Amro targeting 19c for SMO.  Good, predictable cash flow, a nice, safe performer with steady upside in an unpredictable sector.


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## 56gsa (30 August 2006)

Has had a week now of sitting on 11-11.5 range - seems to be strong buying support from 10-11 cents.  If it can consolidate here, then could test 13.5 cent level again on some positive news.  Otherwise long-term support at 8.5


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## chris1983 (20 September 2006)

Anyone had a look at the SP chart for this?  Seems to be pointing up.  Just recently had a good resource upgrade.  Wont have any debt soon.  500 million shares on issue.  I think things will turn around for SMO.


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## chef dave (3 October 2006)

SMO's annual results were released yesterday. To quote from the report-



> SMC Gold LTD today announced an increase in revenues generated from it's mining operations in 2006, and a small loss of A$0.5 million (2005: a loss of A$8.0 million)
> 
> Revenues generated from the Company's interestes in Chile and Australia in 2006 amounted to A$20.7 million (2005: A$19.2 million)




I am quite bullish for the long term price of this company, however am only in a short term trade. Price hit $0.14 for most of today. There has been alot of buying support of the past couple of months and the fundamentals are quite promising. The company should be making profits next year.

Good luck to all you long term holders, you should do nicely out of ths one


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## watsonc (4 October 2006)

This stock is in this month's October Money Magazine as a Penny Hopeful. The new chairman should get the balls rolling!


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## chris1983 (9 October 2006)

Guys the buyers just keep stacking up for this one.  It is going to be making money.  Keep an eye on it.


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## asx256 (9 October 2006)

it looks great. target price of 0.5-0.6 maybe before xmas!


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## laurie (9 October 2006)

It will have a new name shortly   

cheers laurie


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## chris1983 (10 October 2006)

Well I topped up this morning.  got some more at 14.5.  Hopefully the upward trend will continue.  I think it will.


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## qlksvr (10 October 2006)

Smo finally cracked 15c today, I have been holding onto these babies for just over three years when I bought them at 4c.  Just like chris1983 I think I will be topping up with some more soon. Cheers


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## chris1983 (10 October 2006)

This one will keep creeping up.  Been saying it for awhile.  I find it to be a safe investment.  Thats my opinion though.  Research it first people!  Looks good though.

Over 4 million shares sold at 15 cents today.  This isn't a false breakout on low volume.


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## chris1983 (10 October 2006)

The sellers keep thinning out.  Should hit 16 tomorrow unless some huge sell orders come in at 15.5.

This one has great potential with the new Board.  Hugh Callaghan will bring me wealth!  I hope.  Im like 99.9999% positive this stock is finally on the right track.


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## laurie (10 October 2006)

Just make sure you are on before the 31st October   

cheers laurie


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## maverick11 (10 October 2006)

laurie said:
			
		

> Just make sure you are on before the 31st October
> 
> cheers laurie




care to elaborate mate?


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## 3 veiws of a secret (10 October 2006)

I just read a post by someone in the BREAKOUTS section re SMO .
So I went to Westpac securities webpage.Selected forecasts ( I'm talking here re: Westpac ) for the SMO securites .It lists a STRONG BUY by ABN AMBRO. So I goes to the website of SMO .......and I select & scroll down the PDF file re ABN AMBO's ................and guess what.................

REGULATORY DISCLOSURES
Mentioned Companies: MCC, PDN, RIO, CTX, XTA.L, LAF, AA.N, EMP, KZL, HIG, KIM, JBM, ILU, *SMO*
ABN AMRO Morgans was Lead Manager to the placement of shares in Lafayette Mining Limited in December 2005 and received fees in this
regard.LAF ABN AMRO Morgans acted as Lead Manager to a placement of shares by Lafayette Mining in March 2006 and will earn fees in this
regard.LAF ABN AMRO Morgans was Joint Lead Manager to the placement of shares for Emperor Mines Limited in May 2006 and received fees
in this regard. EMP ABN AMRO Morgans was Joint Lead Manager to the placement of shares for Highlands Pacific Limited in March 2006 and
received fees in this regard. HIG ABN AMRO Morgans was a participating broker to the placement of shares in SMC Gold Limited in December
2005 and received fees in this regard. SMO A director of ABN AMRO Morgans is also a director of SMC Gold Limited. SMO An analyst or a
member of any analyst’s household who participated in the preparation of  this report has a shareholding/financial interest in this company:
LAF, EMP, HIG


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## chris1983 (10 October 2006)

So you are saying they are trying to plug them because they are share holders?

Doesnt change the facts of the company.  Going to be making profits.  No more debt.  Expanding the processing facilities of their mine.  Will be expanding the resource with their future exploration.  In my mind that brings me profits.


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## StockyBailx (11 October 2006)

chris1983 said:
			
		

> So you are saying they are trying to plug them because they are share holders?
> 
> Doesnt change the facts of the company. Going to be making profits. No more debt. Expanding the processing facilities of their mine. Will be expanding the resource with their future exploration. In my mind that brings me profits.



A good wager it is, and thats why its always a good idea to ensure you are on steady ground with any investmest. Buy understanding and re-asuring your analyis by all means. _SMO_ an excellent example of Profit Compound and how pretty it can be.


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## chris1983 (11 October 2006)

Nice steady price rise.  Hit 16.  Keeps climbing slowly.  Waiting for some good news to see it jump 3-4 cents.


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## chris1983 (11 October 2006)

Check out the market depth.  Hit 16.5.  Looks to me it will keep on going.


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## chris1983 (12 October 2006)

Trades

108 - 109    12:01      pm   17      2,000,000      $340,000 
99              12:35:10 pm   17      800,000         $136,000
28              8:20       am   17      500,000         $85,000 1 
26              10:17:43 am   17      1,000,000       $170,000 
24              10:10:14 am   17      2,500,000       $425,000


Huge buy orders coming in when the SP was dropping to 17 cents.  Some of the big boys may be accumulating.  Really great support.


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## Porper (12 October 2006)

chris1983 said:
			
		

> Trades
> 
> 108 - 109    12:01      pm   17      2,000,000      $340,000
> 99              12:35:10 pm   17      800,000         $136,000
> ...




It broke out on Monday, so probably shouldn't chase prices up.

Also notice the similarity with the last spike 6 months ago, although this time is a stronger impulsive move.Wait and see how the price action and volume pan out would be my move.


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## qlksvr (16 October 2006)

Well it has hit 0.185 today on no news, they are certainly looking strong.


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## chris1983 (16 October 2006)

Message this morning.  I think investors are starting to become more confident with the boards knowledge and expertise believing they will deliver the goods.  The ball is rolling.  They look set to do well from here.

"SMC GOLD STRENGTHENS COPPER EXPERTISE WITH APPOINTMENT OF KEY NON-EXECUTIVE DIRECTOR SMC Gold Limited 

(ASX: SMO and the “Company” ) is pleased to announce the appointment to the board effective immediately, of Mr James (Jim) Squire as independent non-executive director. 

Mr Squire has extensive senior executive level experience with some of the world’s leading mining houses, including over 30 years’ experience within the Rio Tinto group of companies."


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## Impala (17 October 2006)

Yes - SMC has a very strong and commercially experienced and potentially quite aggressive board.  Smarter than the boards of most mining companies of comparable size. This is yet another good reason to accumulate the stock.


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## chris1983 (18 October 2006)

See message below.

The great thing about SMO is that they should be able to fund their exploration through their current cash flows.

*Strategic Review of Charters Towers assets*

• Two stage Australian exploration program announced for 2007
• A$800,000 to be spent on exploration around Charters Towers

_SMC Gold Limited (ASX: SMO and the “Company”) announced that during October 2006 an independent geologist has reviewed available information on the exploration tenements held by SMC Gold Limited in and around Charters Towers, North Queensland.

Following this successful review, the Company is looking to commission a two stage exploration program involving both geophysical surveys and targeted geological drilling. SMC Gold’s Managing Director Mr Michael Fischer said that it is the intention of the Company to begin an exploration program at the start of the 2007 calendar year.

“The Company recently established a project team with the stated objective to actively review and progress value enhancing strategies for our Australian assets. We have now completed the geological review, and I am confident that the forthcoming exploration phase will better position the Company to extract value from its Australian assets,” Mr Fischer said.

The first stage of the exploration will involve a program of ground geophysics including ground Magnetics and IP to identify drill targets over the cornishman Breccia Zone, as well as a series of RC holes drilled in the Hadleigh east area of the mine corridor, adjacent to the abandoned Hadleigh Castle open pit area (see Location Map and Geological Targets diagrams attached).

Mr Fischer said that success in the first stage of this exploration program may lead to the identification of drill targets at Cornishman, and potential in-fill drilling at Hadleigh East, which will be planned as part of the second stage of the program.Depending on the results of the geophysics at Cornishman, and the RC program over the Hadleigh east mine corridor target, a second stage of the exploration program is planned as a follow-up drill campaign, with a potential of six positive responses requiring follow-up drilling.

“We have budgeted some A$800,000 for the proposed exploration program and we are currently finalizing funding for the program,” Mr Fischer said.
The proposed exploration program will enhance the value of the current Charters Towers Exploration tenements, and any success will in the longer term add significantly to the value of the business due to the area’s proximity to the Rishton Mill complex._


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## chris1983 (21 October 2006)

Up to 19 on good volume.  This one IMO wont show much of a retrace.  It has been a nice steady/gradual rise which definately wouldnt of attracted too many day traders.  This is a stock for investors who want to see what the board can deliver.  

I think it will keep going into the mid 20's then stabalise around there untill they upgrade their resource and get their mill upgrade at Punitaqui in place.The engineering work has already commenced and the programme of upgrades to crushing and milling circuits and the concentrator is expected to be completed by January 2007.  So keep your eyes on this one over the next 3-4 months


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## laurie (21 October 2006)

Totally agree if the next announcent is good .25c should be the reward JMHO!

cheers laurie


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## StockyBailx (22 October 2006)

laurie said:
			
		

> Totally agree if the next announcent is good .25c should be the reward JMHO!
> 
> cheers laurie




*SMOOOO!*


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## laurie (22 October 2006)

chris1983 said:
			
		

> Up to 19 on good volume.  This one IMO wont show much of a retrace.  It has been a nice steady/gradual rise which definately wouldnt of attracted too many day traders.  This is a stock for investors who want to see what the board can deliver.
> 
> I think it will keep going into the mid 20's then stabalise around there untill they upgrade their resource and get their mill upgrade at Punitaqui in place.The engineering work has already commenced and the programme of upgrades to crushing and milling circuits and the concentrator is expected to be completed by January 2007.  So keep your eyes on this one over the next 3-4 months




The crushing circuit is the biggest problem they have due to hard ore was told at EGM that it's like using your home blender to do the job   

cheers laurie


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## chris1983 (23 October 2006)

I heard about that also.  They must be putting some good upgrades to the crushing circuit then?


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## chris1983 (23 October 2006)

So to the holders of SMO.  Whats your opinion?  Great stock..making profits..good management now in place.  Probably a good hold IMO.


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## chris1983 (27 October 2006)

"Shareholders will be asked to approve a change of name to Tamaya Resources Limited at the forthcoming annual general meeting planned for November 27, 2006."

What do you guys think of the name change?  I like it.  Atleast it isn't SMC Gold. Put the bad past behind us! A new beginning  

They are travelling nicely atm with a nice uptrend


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## laurie (27 October 2006)

I'm going to the AGM and ask Hugh Callaghan for forgiveness because I said at the EGM that SMO was a dog of a share......well I was right

cheers laurie


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## chris1983 (30 October 2006)

Hey Laurie..it continues to creep up..22 now with the ask at 22.5

Looks to be in a nice uptrend


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## laurie (30 October 2006)

So why is it down on good news!!

cheers laurie


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## chris1983 (30 October 2006)

Few profit takers.  All good mate.  Good hold.  These directors arent stupid


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## McSquirkle (5 November 2006)

SMO is finally coming into the black. I bought at 9.5 and feel confident with Hugh C as the big cheese and am a strong hold. Sitting at 21.5 today I expect SMO to approach .30 in early 2007, but that's just 'my' crystal ball. Re; the earlier rumours of a 'new name'....back in your box!


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## chris1983 (6 November 2006)

Travelling nicely atm.  Nice steady chart..as long as they keep the profits coming, continue to upgrade their resource and the expansion goes through successfully we are set.


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## chris1983 (7 November 2006)

Good read for anyone interested.

http://www.smcgold.com.au/news/06_10_30 Aegis report.pdf

Best parts of the report for me is:

_"SMC Gold's valuation is based on a combined Net Present Value calculation for the Chilean operations and a Multiple of Exploration Expenditure calculation for the assets in Charters Towers. We have determined the combined assets to be worth $164.9M, or 32.3 cents per share."_

*Potential*
_The view we have taken of SMC Gold is very conservative, given that there is scope to ramp up production significantly faster and above what we have outlined. We have also not taken into account the value of the Rishton Mill option, which, given the lead time and cost of a new mill today, could significantly save the company capital, should exploration prove successful at Charters Towers. The Aegis forecast commodity prices are also fairly conservative and if current prices remain high over the next few years, this could add significant profit, cashflow and upside to our current valuation.

Using the forecast FY08 Free Cashflow of $22.9M, a cashflow multiple of 7 times and a fully diluted share base of 510.9M shares (509.9M shares + 1.0M options), the following calculation can be made:

Cashflow valuation = ( 22.9 x 7 )/510.9 = $0.31 share price Alternatively, using the forecast FY08 NPAT of $22.5M, a fully diluted share base of 510.9M shares and a nominal PE ratio of 9 times, the following calculation can be made: Earnings valuation = ( 22.5 /510.9) x 9 = $0.40 share price_


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## 56gsa (30 November 2006)

Sold most of my holding on this, but looks like it might make another run and test the 24c high.  SMO has appeared in speculator and share mag so people now more aware of it but apart from increased production from more efficient operations not sure if theres anything major in the ST?

maybe a change of name will help with the feng shui....?

TAMAYA RESOURCES LIMITED
The Company advises that today the Australian Securities and Investments Commission registered the change of company name from SMC Gold Limited to Tamaya Resources Limited (certificate of registration attached).
The company will shortly advise the date at which trading will commence under the expected code TMR.


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