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SMM - Summit Resources

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The thing is PDN is already producing. 1st mine at 70% 2nd mine maybe next year, can take advantage of current prices $$. SMM is still in the ground and will be till 2010-2012?? Who has a cystal ball to say what price u308 in 5yrs? time. (bird in hand worth 2 in bush)
 
Guys, PDN's shares down .19 (1.95%), SMM's down 0.11 (2.22%). Isn't "nuked" a bit of an overstatement?

On this same day, ERA went down $1.55 (5.54%) and more relevantly the market 70.6 points. I would have thought a drop of closer to 10% might warrant that tag. Or am I just being naive?
 
Gurgler said:
On this same day, ERA went down $1.55
Click to expand...

Read ERA's ann re up to 35% production downgrades next year. Thats company specific

Gurgler said:
Or am I just being naive?
Click to expand...

It's all in ERA's ann gurgler. Make sure you read ANNs

This is good for SMM, as more production cut, the higher u price will go(as ERA supplies the u market currently), and the more demand(more premium) for SMM's 50% owned valhalla. Market needs additional deposits to be brought online in Australia.
 
:disgust:
spooly74 said:
How do you get 6 years?

Eggers thinks it`s going to be tough but they are aiming for 2010.
cheers
Click to expand...

I don't know how you get 2010. Thing doesn't get built overnight. It has to do BFS, Enviromental approvals etc atleast 2011 first yellowcake. At the slow rates we saw SMM deliver their underwhelming resource estimates(4 months late - and still no word on the other 4 prospects) looks like they will err on the delayed side of things esok:
 
Halba said:
Read ERA's ann re up to 35% production downgrades next year. Thats company specific

It's all in ERA's ann gurgler. Make sure you read ANNs
Click to expand...

Halba
Thanks for pointing this out. I don't seem to be able to keep up with ann's .

But can't afford to give up my day job!
 


Got 2010 from Eggers..... it will be tough, but not 6 years.

http://clients.westminster-digital....ite/events/37/video/index.aspx?companyID=37_5
 
Surely 1 must wounder why it has taken a possible T/O to make smm get there A into G in regards to what they have, as pointed out 4 months behind, is there more to it?? How's the cash flow, smm has taken to fighting dirty, pdn no saint either, just seems to be more than meets the eye. Anyway marathon has better ground.
 

Sorry I'm venting a lot of frustration on SMM's management team. In short they could have done a lot better. The result is I have liquidated nearly 1/2 my SMM stake today. Lets see how it goes later this month. Better opps elsewhere if they continue to disappoint. This boom won't last forever so we need good management! Lesson no.1!
 
So has bmn come to think of it,cheaper as well.Also a company that is not resting on it's laurels,bmn is going forward,very calculated.with possibly one of arguably the best address in the u308 street
 
Does anyone think there will be another takeover of SMM?? Are they waiting for the ALP decision?
 
Timelord, you can indeed travel forward in time.
I refer to the announcement on the asx this morning by SMM regarding a 3rd party (not Paladin) in talks.
 
Who is it indeed....

Maybe Rio Tinto or BHP want to get into the act here in QLD?

If they did...you can bet your life that there would be something they know which we dont about whats install at the upcomming conference.

Thats would put SMM SP through the roof...lol

I guess there is always the chance that this will squeeze more money out of PDN's offer too.
 
Roll on Thursday. Got some more stuff in the post today about the PDN offer. I wonder what this new offer will be?

I wish I still held PNN.
 
There is absolutely no chance that BHP or RIO will make an offer. Because they just don't see the value and needs.

The only company in the world can make an extreme offer is Mega Uranium Ltd, MGA.TO, the one who has taken RPT and HMR. All MGA.TO's resources are in QLD and WA. They have not found anything in SA yet.

There is sign for this. MGA.TO's share price was up 20%+ late yesterday afternoon, (partly because of stock tip sheet), a typical manipulation by deal broker;

Using the hyped MGA.TO share to lunch scrap deal for SMM.

MGA.TO can offer anything between $6 to $9 value of stock without dilute its the EV/lb. Amazing valuation

Then market will cheer for the deal, send MGA.TO higher, and SMM even higher.

Sounds like a Dot.com story...
 
mmmmining said:
"..MGA.TO's share price was up 20%+ late yesterday afternoon, (partly because of stock tip sheet).."

that was Sir James [TDL] who re-issued a buy on Mega.....he certainly knows something is up with MGA/SMM...
 
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