SMM - Summit Resources

[dj_420]

exactly! make a cash bid or a particular value for scrip that can be adjusted.

i want to see $7 - 9 per share for SMM. IMO, PDN have snuck this hostile takeover right before JORC upgrade, court case, and predicted drop on 3 mines policy!

very very opportunistic IMO.


and may i add that this is when PDN shares were fully priced. their offer looks ridiculous now!

 

[nizar]

PDN and SMM are both winners longer term - with or without each other.

PDN tried to get SMM on the cheap, which i dont blame them, i would do the same thing if i had a spare billion stashed somewhere.

SMM sp will be closer to $10 as we approach April.

The only worrying thing is the delayed. JORCs for the other deposits still not released from last year. Dont management realise its better to underpromise and overdeliver and not the other way around??!

 

[Halba]

agreed nizar re: mngmt. the delay was not the company's fault= lab delay.

Also agree that SMM and PDN will still track each other post the rejection. SMM can multibag more as mkt cap is less than 1 billion, whereas pdn at 5.5billion is from a higher base.

SMM will be similar to the FMG of uranium - a massive Aussie project(the biggest u mine after Ranger/Olympic dam) and mkt will value it properly.

 

[borat]

when is the court case for PDN? and what specifically is it about? any links would be appreciated... thanks guys.

B.

 

[Gurgler]

JORCs for the other deposits still not released from last year.

Who is handling the processing of lab results?

With the significantly increased demand in lab processing, anyone considering investing in their shares?

 

[Sean K]

Who is handling the processing of lab results?

With the significantly increased demand in lab processing, anyone considering investing in their shares?

I think the hold up is at ANSTO. AGS/Quasar are having the same problems. I don't think you can invest in them.

 

[Sean K]

In my opinion, theres massive upside for SMM if this policy change comes through and im not talking a % im thinking more like double digits++.
You still holding your SMM?

(excuse the off-topic)

Yep, still got a few. Free carried now.

This has been a great pick, and it's one of the very few I had 100% conviction with when it was back at around $1.00. I NEVER give out 'hot tips' to friends, but was pressured to last September and the only one I could come up with was this. (it was $1.50 then) The potential around Mt Isa with the tenaments and the drilling results they had were just fantastic. Plus a great JORC already in the bag. Once it seemed clear that Labor were going to change their policy, that was when it started to really run.

Speaking of JORCs......I reckon SMM will get these out shortly and may have ample ammunition to force PDN to up their bid. But I am actually hoping now that SMM stays the company it is, wins the litigation to take 100% of the IUJV, and then pushes on to production. There maybe more upside to SMM staying independant.

Having said that. I wouldn't mind owning PDN shares with LH, Mt Isa, Kayelekera, Bigrlyi, and possibly the rest of DYLs tenaments when they take them over..... Will have a mighty portfolio with uranium over $100 lb....

Perhaps holding both is a good option?

 

[Gurgler]

Perhaps holding both is a good option?

As you know, that's where I sit now. My dilemma is whether to increase the number of PDN, while the price is at current levels?

What is the technical perspective atm?

 

[nizar]

Yep, still got a few. Free carried now.

This has been a great pick, and it's one of the very few I had 100% conviction with when it was back at around $1.00. I NEVER give out 'hot tips' to friends, but was pressured to last September and the only one I could come up with was this. (it was $1.50 then) The potential around Mt Isa with the tenaments and the drilling results they had were just fantastic. Plus a great JORC already in the bag. Once it seemed clear that Labor were going to change their policy, that was when it started to really run.

Speaking of JORCs......I reckon SMM will get these out shortly and may have ample ammunition to force PDN to up their bid. But I am actually hoping now that SMM stays the company it is, wins the litigation to take 100% of the IUJV, and then pushes on to production. There maybe more upside to SMM staying independant.

Having said that. I wouldn't mind owning PDN shares with LH, Mt Isa, Kayelekera, Bigrlyi, and possibly the rest of DYLs tenaments when they take them over..... Will have a mighty portfolio with uranium over $100 lb....

Perhaps holding both is a good option?

Yeh im thinking the same thing. Only holding PDN at the moment. Im keen to take a punt on DYL. IMO not much downside risk at these sub-40c levels.

 

[Halba]

Holy sheeeet pdn down 7% on canada after being down nearly 9% at one point. Wheres the bottom on dis?

I haven't bought in yet.

 

[lancer]

James Dines posted a sell on SMM, which is why today was down almost 30% at one point....

 

[exgeo]

At what price did Mr Dines recommend punters take their profits? That's a pretty relevant piece of information. I've just subscribed to his newsletter actually, but haven't received the first one yet.

 

[lancer]

You will love him! Have done great for the past year thanks to him. He put a sell when it was at 4.52 AU. But the newsletter came out last fri. which when it was released the correction had started so nobody really had a chance to sell at that price.

 

[mmmmining]

After a few madness days, I have time to read the reports. I believe SMM's statement is full of anger, and ego, not acting rationally. I believe PDN's offer is not a bad one. The directors might put their interest ahead of shareholders.

If PDN drops the offer....

 

[spooly74]

After a few madness days, I have time to read the reports. I believe SMM's statement is full of anger, and ego, not acting rationally. I believe PDN's offer is not a bad one. The directors might put their interest ahead of shareholders.

If PDN drops the offer....

I agree about the anger! Eggers clearly has the bit between his teeth, the previous ann stated that they gave the offer careful consideration and then decided to wipe their ar$e with it.

As a holder, $5.12 is very tempting but I do think it was opportunistic.
Timed just 2 weeks before the ALP confrence is suss and there is a real chance PDN could lose the courtcase over Valhalla and Skal.....and if Summit lose they still get 50%.

Summit are also due (by all accounts) a big resource upgrade with 4 jorcs released within the next month including Andersons. Two more due shortly after that.... all 100% SMM

They also have potential for new discoveries in the Georgina Basin (12,000km² with $5 mill funding)
I also like the Pacific Mines spin off.

There is enough in that for me to keep holding long term or until a better offer comes in.

Mr Borshoff , you have the floor

 

[Halba]

The offer was not 5.15. It was volatile PDN scrip. No thanks.

 

[spooly74]

The offer was not 5.15. It was volatile PDN scrip. No thanks.

Yep, oops 2.04 for 1.
again .. no thankyou

 

[Old monkey]

Pardon my ignorance but how can I subscribe to Mr. Dines

 

[Fab]

I agree about the anger! Eggers clearly has the bit between his teeth, the previous ann stated that they gave the offer careful consideration and then decided to wipe their ar$e with it.

As a holder, $5.12 is very tempting but I do think it was opportunistic.
Timed just 2 weeks before the ALP confrence is suss and there is a real chance PDN could lose the courtcase over Valhalla and Skal.....and if Summit lose they still get 50%.

Summit are also due (by all accounts) a big resource upgrade with 4 jorcs released within the next month including Andersons. Two more due shortly after that.... all 100% SMM

They also have potential for new discoveries in the Georgina Basin (12,000km² with $5 mill funding)
I also like the Pacific Mines spin off.

There is enough in that for me to keep holding long term or until a better offer comes in.

Mr Borshoff , you have the floor

Out of interest when is the ALP meeting? and would you know when Cameco is due to give an update on their flooded mine?

 

[spooly74]

Out of interest when is the ALP meeting? and would you know when Cameco is due to give an update on their flooded mine?

27th to 29th April is the ALP conference and I think Cameco will have a more detailed report at the end of this month.