SMM - Summit Resources
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ALFguy
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Might be on the move with an update of finds at Mt Isa....
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chicken said:Smm...ready to go for a run...what is this worth when they are or have permission to mine....some are saying as high as $28....conservative.....
Geez chicken, who's saying $28?
Sean K
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'Some' are Sam. Close relations to 'they'.
I think Chicken has a $28 price target on SBM too!
I think Chicken has a $28 price target on SBM too!
Sam,read HC and its all there research and all.....good hunting...also PDN might try and buy SMM....it will costs them....the CEO of SMM is a NZ lawyer...highly respected....company will go places as soon as the labour policy has changed....sam76 said:
Sean K
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Forming a nice penant. One to watch for which way it breaks, but should be up.
I'm not on this yet, but as discussed through this forum, one of the better U plays in the country except that it's in QLD *%##!
It will be interesting to listen to debate during question time over the next few weeks and the comments by the fed Labor party and what the consensus may be. I think they're going to change national policy which will mean SMMs significant deposits will be there for the taking.
I'm not on this yet, but as discussed through this forum, one of the better U plays in the country except that it's in QLD *%##!
It will be interesting to listen to debate during question time over the next few weeks and the comments by the fed Labor party and what the consensus may be. I think they're going to change national policy which will mean SMMs significant deposits will be there for the taking.
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the resources that this company owns are huge. and they only have 187 million shares on issue. i think these guys will be bigger than palladin. what are ppls estimates when uranium policy changes, i mean im thinking it will be a 5x increase following policy change.
do they have production cost esimates yet or is that far off?
i bought in at 1.50 but will be continually adding this stock. buy into the dips
do they have production cost esimates yet or is that far off?
i bought in at 1.50 but will be continually adding this stock. buy into the dips
Sean K
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Chart wise it's starting to look shakey. Dropping down out of a pennant but not dramatically yet.
Agree on the fundamentals. The tenaments they have are outstanding with some of the biggest deposits in the country. When and will they be able to mine it though?
I think if Labor changes its policy you'll find a lot of the big boys scooping up these companies, although it's happening already. PDN takes VUL, Mega buys RPT. Wonder when BHP and RIO are going to start buying?
Surely SMM would be under the microscope?
Agree on the fundamentals. The tenaments they have are outstanding with some of the biggest deposits in the country. When and will they be able to mine it though?
I think if Labor changes its policy you'll find a lot of the big boys scooping up these companies, although it's happening already. PDN takes VUL, Mega buys RPT. Wonder when BHP and RIO are going to start buying?
Surely SMM would be under the microscope?
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i dont know how shaky its looking. buyers are beginning to stack up and its only 9:20 am.
what is the result of pdn buying out vah, smm will still earn 50% am i correct. if anything it shows what a world class deposit they have, pdn trying to snap up major deposits for policy turnaround
what is the result of pdn buying out vah, smm will still earn 50% am i correct. if anything it shows what a world class deposit they have, pdn trying to snap up major deposits for policy turnaround
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buyers disappeared this morning, but showed good support at 1.39 - 1.40 is it still within the pennant kennas??
i found this article on summit
SUMMIT UNDERVALUED BY UP TO TEN TIMES!
COMPANY COMPARISONS
ORD MINNETT
URANIUM REPORT ERA
Attached is Ord Minnett's Company Review dated 11 July 2006 on Australian Uranium Producer ERA.
Table 4 compares a number of uranium companies market value of A$ per tonne U3O8 based on their uranium reserves and resources.
Summary Table 4
COMPANY Valuation A$/tU3O8
AREVA $75,084
PALADIN $56,520
DENISON $46,558
CAMECO $29,314
SRX URANIUM $10,224
ERA $9,818
SUMMIT $6,932
An analysis of Ord Minnett's table indicates, based on companies uranium reserves and resources, Summit's share price on a comparative basis, should be over 10x its current price when compared to AREVA, over 8x its current price when compared to Paladin, around 7x when compared to Denison and 4x times when compared to Cameco.
Further, the quality of Summit's uranium resources in terms of grade and tonnes and proximity to existing mining infrastructure, translate directly into Summit becoming one of the world's lowest cost uranium producers with high margin profitability.
Alan J Eggers Managing Director
SUMMIT RESOURCES LIMITED
i found this article on summit
SUMMIT UNDERVALUED BY UP TO TEN TIMES!
COMPANY COMPARISONS
ORD MINNETT
URANIUM REPORT ERA
Attached is Ord Minnett's Company Review dated 11 July 2006 on Australian Uranium Producer ERA.
Table 4 compares a number of uranium companies market value of A$ per tonne U3O8 based on their uranium reserves and resources.
Summary Table 4
COMPANY Valuation A$/tU3O8
AREVA $75,084
PALADIN $56,520
DENISON $46,558
CAMECO $29,314
SRX URANIUM $10,224
ERA $9,818
SUMMIT $6,932
An analysis of Ord Minnett's table indicates, based on companies uranium reserves and resources, Summit's share price on a comparative basis, should be over 10x its current price when compared to AREVA, over 8x its current price when compared to Paladin, around 7x when compared to Denison and 4x times when compared to Cameco.
Further, the quality of Summit's uranium resources in terms of grade and tonnes and proximity to existing mining infrastructure, translate directly into Summit becoming one of the world's lowest cost uranium producers with high margin profitability.
Alan J Eggers Managing Director
SUMMIT RESOURCES LIMITED
Sean K
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Hmmm, interesting info. Makes it look very attractive. It's in QLD though!
I think it's lost the pennant for the moment and just wavering, generally down, although todays action was encouraging. Hit $1.39 and bounced significantly. There was some previous support around that level. Need to watch it over the next few days to get a better picture.
I think it's lost the pennant for the moment and just wavering, generally down, although todays action was encouraging. Hit $1.39 and bounced significantly. There was some previous support around that level. Need to watch it over the next few days to get a better picture.
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i think that is the only thing holding it back, the fact it is in qld. when uranium policy turns around this will have huge potential.
i think that with rising pressure eventually we will have to change policy regardless of some political opinion.
its only a matter of time
i think that with rising pressure eventually we will have to change policy regardless of some political opinion.
its only a matter of time
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It comes down to this policy been reversed. if they change the policy at a federal level then that will efectively overrule whatever beattie wants.
IMO there is a growing pressure from both US and China to begin a uranium enrichment policy. This policy cannot stand forever and when it does finally get reversed SMM will be able to make the progression to producer.
Interesting to note whilst paladin bought into Mt Isa also then they obviously expect a policy change in the upcoming year. What would be the effects of Paladin and Summit in the JV, anyone care to comment.
Also the way uranium spot prices have been consistantly increasing every 2-3weeks. it would be good to see u above $50, that will generate panic buying in u stocks and we will see another u driven increase
IMO there is a growing pressure from both US and China to begin a uranium enrichment policy. This policy cannot stand forever and when it does finally get reversed SMM will be able to make the progression to producer.
Interesting to note whilst paladin bought into Mt Isa also then they obviously expect a policy change in the upcoming year. What would be the effects of Paladin and Summit in the JV, anyone care to comment.
Also the way uranium spot prices have been consistantly increasing every 2-3weeks. it would be good to see u above $50, that will generate panic buying in u stocks and we will see another u driven increase
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I found the valuations that chicken has been talking about.
It is an insitu value only and does not take into account productions costs.
It also is based on the assumption that SMM can increase their deposit size up to 150 million pouns of u. It is also based on the assumption that the current u spot price continues to increase at a rate of $0.5 per week. It is a post that was found on hot copper. I have posted it below for people to read and discuss
Post 2:
Investors have forgotten that the current increase in the U price amounts to US50 cents/week and that this increase confirms my prediction:
Subject re: increases of insitu values
Stock Code SMM - SUMMIT RESOURCES LIMITED
Posted 11/05/06 09:42
Posted by stolwyk
Post #1054463 - 1418 reads
In Reply to msg #1043143
Investors have forgotten that the current increase in the U price amounts to US50 cents/week and that this increase confirms my prediction:
Subject re: increases of insitu values
Stock Code SMM - SUMMIT RESOURCES LIMITED
Posted 11/05/06 09:42
Posted by stolwyk
Post #1054463 - 1418 reads
In Reply to msg #1043143
INCREASES OF INSITU VALUES
Assuming they can get 150 mill lbs in a year's time (And they are well on the way),
then the deposit Insitu value will be Aus$8181.8 mill (US$42/lb and A=0.77) or based on their 188 mill shares, $A43.52 /share, a nice value but *not* incorporating Uranium price increases during the year.
+ + + What is forgotten that the Uranium price increases during the year could be good enough to hold the shares for, while waiting for approval.
One could get a 50 cents/week increase in the U price in the next 12 months or say US$26.
That gives a massive *increase* in value of the Insitu deposit of 150 mill lbs or more or $AU5.064 billion or $AUS26.94/share. Current share price is $A1.51.
+ + + Assume we have an Insitu 150 mill lbs U in 12 months time, and the U price will be the current US$42+26=US$68 or $A88.31/lb, or a sum total of 13246.5 mill or based on 188 mill shares:$A70.47/share.
Of course I am talking about Insitu values, but rest assured there will be enough left after production. Current U price: US$47.25
SMM could be one of the most valuable stocks to have ($1.51/share), assuming uranium is getting more expensive with time.
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.
It is an insitu value only and does not take into account productions costs.
It also is based on the assumption that SMM can increase their deposit size up to 150 million pouns of u. It is also based on the assumption that the current u spot price continues to increase at a rate of $0.5 per week. It is a post that was found on hot copper. I have posted it below for people to read and discuss
Post 2:
Investors have forgotten that the current increase in the U price amounts to US50 cents/week and that this increase confirms my prediction:
Subject re: increases of insitu values
Stock Code SMM - SUMMIT RESOURCES LIMITED
Posted 11/05/06 09:42
Posted by stolwyk
Post #1054463 - 1418 reads
In Reply to msg #1043143
Investors have forgotten that the current increase in the U price amounts to US50 cents/week and that this increase confirms my prediction:
Subject re: increases of insitu values
Stock Code SMM - SUMMIT RESOURCES LIMITED
Posted 11/05/06 09:42
Posted by stolwyk
Post #1054463 - 1418 reads
In Reply to msg #1043143
INCREASES OF INSITU VALUES
Assuming they can get 150 mill lbs in a year's time (And they are well on the way),
then the deposit Insitu value will be Aus$8181.8 mill (US$42/lb and A=0.77) or based on their 188 mill shares, $A43.52 /share, a nice value but *not* incorporating Uranium price increases during the year.
+ + + What is forgotten that the Uranium price increases during the year could be good enough to hold the shares for, while waiting for approval.
One could get a 50 cents/week increase in the U price in the next 12 months or say US$26.
That gives a massive *increase* in value of the Insitu deposit of 150 mill lbs or more or $AU5.064 billion or $AUS26.94/share. Current share price is $A1.51.
+ + + Assume we have an Insitu 150 mill lbs U in 12 months time, and the U price will be the current US$42+26=US$68 or $A88.31/lb, or a sum total of 13246.5 mill or based on 188 mill shares:$A70.47/share.
Of course I am talking about Insitu values, but rest assured there will be enough left after production. Current U price: US$47.25
SMM could be one of the most valuable stocks to have ($1.51/share), assuming uranium is getting more expensive with time.
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.
