SMM - Summit Resources

[Fab]

I just noticed the pre-opening price and uranium stocks are going to be hot hot hot until at least April and the decision on the 3 mines policy. Then they will even hotter

 

[Sean K]

Well picked Fab. Gapped up 5%.

 

[Fab]

Just sold mine at $2 . Too tempting. I will buy back when it get lower. If it get lower

 

[Sean K]

Well done Fab. I'm holding till it hits $70.00

In the upper reaches of the 1 yr trend. Might be a chance to get it when it comes back to the lower band, but breaking through $2.00 is significant. Still, hasn't held above the line for any time yeat really. Let's see what tomorrow brings...

 

[Fab]

I agree it might be a mistake but then I made over 100% in 1 year.Tempting to log in the gain. I hope I will have a chance to buy back so

 

[chicken]

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......

Kennas...I do agree with you here Shareprice...will go A LOT HIGHER....and yes if allowed to mine in 2007....this will go like a rocket....and its best now to position oneself in this stock...have a good holding now my average is 59cents...so do not sell or trade till at least $25.....my cream in retirement..

 

[Sean K]

Going a bit balystic now. As much as I love to see a stock run, I always think whooa there! It's just unhealthy for long term stocks to go virtical.

I'd prefer a nice easy pleasant rise to $100 thanks.

 

[chicken]

Now hear it from CHICKEN....this could very well be our Poseiden....as soon as SMM have the green light...this could become the $200 share once in a lifetime this happends...so make your research...I hold....and watch SMM when it goes balistic...YOU HAVE BEEN TOLD....London Brokers are now telling their clients to buy.....so it looks to me its all going to happen here...

 

[nizar]

Now hear it from CHICKEN....this could very well be our Poseiden....as soon as SMM have the green light...this could become the $200 share once in a lifetime this happends...so make your research...I hold....and watch SMM when it goes balistic...YOU HAVE BEEN TOLD....London Brokers are now telling their clients to buy.....so it looks to me its all going to happen here...

yeh if u reckon nuclear policy will change then no doubt this is THE STOCK to be holding...

 

[Fab]

Does anyone know a broker that offers SMM on margin loan ??

 

[Sean K]

Fab, you should be able to buy it through anyone. If they don't 'accept for margin lending' this should only mean that the security can not be used as collateral for future lending. ie, the equity of SMM stock can not be used to borrow against for other purchases.

 

[nizar]

Fab, you should be able to buy it through anyone. If they don't 'accept for margin lending' this should only mean that the security can not be used as collateral for future lending. ie, the equity of SMM stock can not be used to borrow against for other purchases.

kennas with 5 or 6 JORC resource estimates to be out by the end of the year it seems a winner, but at $500million market cap maybe looking a bit pricey?

how long do you reckon after the green light in april can these guys realistically start production?

 

[Sean K]

kennas with 5 or 6 JORC resource estimates to be out by the end of the year it seems a winner, but at $500million market cap maybe looking a bit pricey?

how long do you reckon after the green light in april can these guys realistically start production?

Summit has the most advanced projects in Australia all within 70km of Mt Isa and should be the first to mine if they get the go ahead. I can't find any information on a start up date after green light.

Reading though their web site will give you a great understanding of where they are at.

It really is a compelling story and if Labor do change their policy, this stock will be worth buckets.

It's market cap has increased considerablein the past year reflecting the value of the in ground resourses, and many of them are still open at depth and along strike. Still potential for further upgrades to the 75m lbs they already have JORCed.

www.summitresources.com.au

I don't hold enough of this atm. Waiting for another pullback to buy more.

I would be extremely surprised if PDN do not buy them out. Or even BHP or RIO.

 

[Sean K]

Their web site also has several independant valuations from the likes of Carmichael, Far East Capital and Martin Place, all raving about them. Carmichael have a $3.65 valuation on them when the price of uranium was about $40 lb. It's now approacing $60, destined for $100 next year, due to supply/demand.

 

[Halba]

How does this all help Summit which won't be mining till at least 2010/11? And thats a BIG IF

 

[Sean K]

How does this all help Summit which won't be mining till at least 2010/11? And thats a BIG IF

Yep, it's a big if. Life is a gamble. We take a risk every time we walk out the door. But we do it because we make calculated judgements of how safe it is and the potential rewards. I am risking that the Labor Gov are going to change their national policy by analysing who has been saying what and the feeling I get from even the national green groups is that we must change our mindset in regard to uranium mining and power. We will change imo.

 

[Halba]

when this baby retraces (and they all do) due to somebody saying something about no uranium in QLD, i will buy a small amount in this stock

The trend is your friend as they say. unbelievable trend at that

 

[Fab]

Halba,

That is what I am waiting for I hope it retrace to $1.80 maybe $1.50 but probably no less.

 

[chicken]

Halba,

That is what I am waiting for I hope it retrace to $1.80 maybe $1.50 but probably no le
ss.

$1.80...PERFHAPS ,MAYBE ,but, I would not bet on it as the cat has been let out of the bag.....LOLOLOLOLOLOLO....Brokers are telling their clients in LONDON to BUY

 

[chicken]

kennas with 5 or 6 JORC resource estimates to be out by the end of the year it seems a winner, but at $500million market cap maybe looking a bit pricey?

how long do you reckon after the green light in april can these guys realistically start production?

Yeah looking pricey..LOLOLOLOLO....with an inground value of Uranium worth $7 to $8 Billion $$$$$$....keep dreaming...and do your figures..PDN will know..