SMM - Summit Resources
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Sean K
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Fab said:Will it go past the $2 mark today ??
There was a sale or two at $1.90. Not bad. Broken out I'd say. A $1.82 as I type.
The major resistance was between $1.60 and $1.70, now going blue sky.
This litigation with Resolute might go SMMs way and create quite a big company. I received a nice letter from them in the mail yesterday stating that they were pretty confident of a positive outcome with the procedings taking 3-6 mths. Also planning to have 6 of their U tenaments JORCed by the end of the year. Plus, of course, they are also confident Labor will change their 'No Brains' policy.
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Sean K
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Well, no $2.00 yet, but pushing up to it once again. Hopefully this will establish $1.80 as a base.
Sean K
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Let's not get too excided Fab. I want this to be a long slow climb to $5.00+
Should find very good support between $1.60 and $1.75 on any near term correction.
Damn Faulkener looks like he is going to be the next Labor National President which I can't decide is good, or not. He does not support abolishing the 'no new brains' policy which means he will either try and influence the vote next year, or will feel obliged to stay out of it.....
Anyway, for the short term, us SMM holders can enjoy this little ride. Most of the market is doing OK though.......
Should find very good support between $1.60 and $1.75 on any near term correction.
Damn Faulkener looks like he is going to be the next Labor National President which I can't decide is good, or not. He does not support abolishing the 'no new brains' policy which means he will either try and influence the vote next year, or will feel obliged to stay out of it.....
Anyway, for the short term, us SMM holders can enjoy this little ride. Most of the market is doing OK though.......
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kennas said:
Very possible.
These guys have HUGE uranium deposits, infrastructure in place, cheap extraction costs only us$8/lb, all they are waiting for is the word GO.
Im not in this but definately be when it gets closer to april. One of the best uranium stocks to hold IMO...
Sean K
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I'm excited!!! $1.99. Come on SMM, you need to make up for that damn nasty hound TLS!kennas said:
I DO want some consolidation around $2.00 please.
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it is the fact that there will be an additional six JORC deposits by the end of the year. i think there may be some nice suprises for everyone, andersons i think is going to be a nice high grade deposit.
many other tenements also for exp, many good grades in these tenements, take a look at my earlier posts for some of them.
i think some light has finally been shed on SMM, the sleeping giant is stirring. $2.00 is faiur value IMO, i feel this stock still has a long way to run.
anyone been topping up at these levels???
many other tenements also for exp, many good grades in these tenements, take a look at my earlier posts for some of them.
i think some light has finally been shed on SMM, the sleeping giant is stirring. $2.00 is faiur value IMO, i feel this stock still has a long way to run.
anyone been topping up at these levels???
Sean K
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Fab said:
Fab, the whole market's gone OK the past few days. Turned a bit bullish for the minute. Plenty of 5% + gains, but we don't want this too much. The harder they rise the harder they fall. Slow and steady wins the race. I want to be on this when it's producing in 10 years time at $15 a share.
Sean K
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I'm more excited now fab. $2.00 in the bag......$15.00 here we come.....he he.
Just up with the rest of the market though. The past 2 weeks have been very good to us punters.
Sill, would like the good news to be flowing from SMM. They haven't announced much recently and the sp keeps climbing. Imagine when they come out with one of these JORCs around Mt Isa and say they have 5 more to provide.....or maybe it will be buy the rumour sell the fact stuff.....All good as far as I can see.
John Hewson in the Fin today ramping uranium industry in Australia......
Just up with the rest of the market though. The past 2 weeks have been very good to us punters.
Sill, would like the good news to be flowing from SMM. They haven't announced much recently and the sp keeps climbing. Imagine when they come out with one of these JORCs around Mt Isa and say they have 5 more to provide.....or maybe it will be buy the rumour sell the fact stuff.....All good as far as I can see.
John Hewson in the Fin today ramping uranium industry in Australia......
Sean K
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Spoke too soon, back down to $1.95.
Gotta stop watching these things by the minute..............
Gotta stop watching these things by the minute..............
Yep, someone wants stock at lower price...getting there...but will rise again..what is it worth..when they start mining...some are saying $70....not out of the question..after all they say that SMM resources are high...and only 220million shares....kennas said:Spoke too soon, back down to $1.95.
Gotta stop watching these things by the minute..............
Sean K
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Ha! Beaten down by a whole bunch of crappy $2K trades. What a laugh.
Holding up there was just too hard for this little Summit...
$1.80 should be short term support. I hope.
Holding up there was just too hard for this little Summit...
$1.80 should be short term support. I hope.
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no matter, ill be buying more next week on pay day, ill be glad to pay up to 1.80 for this one. my avg is 1.52 so still ahead, maybe ppl thought news was on the way already and dumped on no news. i think the price did drive ahead a little fast.
no matter see what next week brings, big drop today but nothing about his company has changed, it just got better if i can get some more cheaper.
no matter see what next week brings, big drop today but nothing about his company has changed, it just got better if i can get some more cheaper.
chicken said:Yep, someone wants stock at lower price...getting there...but will rise again..what is it worth..when they start mining...some are saying $70....not out of the question..after all they say that SMM resources are high...and only 220million shares....
$70?
Nice - my initial target is $5 by next year sometime if nuclear policy changes and its all systems go for production.
But if nuclear policy doesnt change come april, and please bear in mind that is STILL POSSIBLE - SMM will go back down to the cents
The PM has been quoted today to be in favor of nuclear power in Australia again. Watch 60 minutes there is an interview about it
No reason why nuclear power could not work in Australia. I used to live in France where most of the electricity is generated via nuclear central and it is great. Never worry about any risk.
Australia is a perfect country for that, no tension, technology savy and has all the uranium reserve in the world. The problem might be to find nuclear scientist trained in this country
No reason why nuclear power could not work in Australia. I used to live in France where most of the electricity is generated via nuclear central and it is great. Never worry about any risk.
Australia is a perfect country for that, no tension, technology savy and has all the uranium reserve in the world. The problem might be to find nuclear scientist trained in this country
Sean K
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Fab said:SMM set for another good day today
Why so Fab?
