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SMO - SMC Gold

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56gsa

56gsa

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Interested in anyones thoughts on this one.

SMC Gold producing copper from Chilean deposits - main resource is 10.7Mt @ 1.43% Cu & 14g/t Ag and claims this will increase based on recent drilling.

CVC (venture capitalists) have been selling down their holding, and still some large sales at 10.5,11,11.5.

The SPP couple of months ago (which I got in on) was @ 8.5, so once CVC and profit takers have sold out where to then?

any thoughts?
 
Another high volume day - trading 10.5 to 11

Be interested to hear from others whether they think this could be SPP profit takers (and maybe CVC still) selling and things may go higher after they have left the market?
 
found resistance @ 13, if it can breakthru 13.5-14 then blue sky?

Qtrly report - Cu production up and now producing at profit, cash in bank $2.4m - exploration, more results & new updated resource finalised in May.
BNB helping SMO look for JV investors for exploration of chartres twrs gold areas.
 
Don't give up on this one. It was given a near future value a while back by a sound broker of 15c - and that was prior to major upwards movement in gold and copper prices. The future growth in cash flow is fairly predictable compared with many other mining stocks with comparable market capitalisations. They did stuff up a little with their mining equiment in Chile, but seem to have righted that now based on latest quarterly report. There's been a change of senior management there too. I would be a bit concerned about VC co selling out, but being ex-VC myself, I'd wonder what a true VC is doing investing in such a company. One of the larger shareholders is a Sydney guy with interests in a couple of North American mining ventures - find it kind of intriguing that he's invested several million dollars in SMC. What we need is to get some people to take a long term view of the company, soak up enough shares to get rid of at least the current crop of day traders, and then I think we'd see better share price appreciation. I don't think this one is another Oxiana or PNA, but there should definitely be 50-80% in the medium term, subject to reasonably high copper and gold prices continuing - especially as the company is apparently unhedged at present.
 
Announcement re increase by 50% of production capacity could see this test 13 cents again, altho volume not that strong at present
 
I Have this stock and they have been very solid. Operations seem to be progressing niceley. Good hold In my opinion.
 
ABMN Amro targeting 19c for SMO. Good, predictable cash flow, a nice, safe performer with steady upside in an unpredictable sector.
 
Has had a week now of sitting on 11-11.5 range - seems to be strong buying support from 10-11 cents. If it can consolidate here, then could test 13.5 cent level again on some positive news. Otherwise long-term support at 8.5
 
Anyone had a look at the SP chart for this? Seems to be pointing up. Just recently had a good resource upgrade. Wont have any debt soon. 500 million shares on issue. I think things will turn around for SMO.
 
SMO's annual results were released yesterday. To quote from the report-

SMC Gold LTD today announced an increase in revenues generated from it's mining operations in 2006, and a small loss of A$0.5 million (2005: a loss of A$8.0 million)

Revenues generated from the Company's interestes in Chile and Australia in 2006 amounted to A$20.7 million (2005: A$19.2 million)
Click to expand...

I am quite bullish for the long term price of this company, however am only in a short term trade. Price hit $0.14 for most of today. There has been alot of buying support of the past couple of months and the fundamentals are quite promising. The company should be making profits next year.

Good luck to all you long term holders, you should do nicely out of ths one
 
This stock is in this month's October Money Magazine as a Penny Hopeful. The new chairman should get the balls rolling!
 
Well I topped up this morning. got some more at 14.5. Hopefully the upward trend will continue. I think it will.
 
Smo finally cracked 15c today, I have been holding onto these babies for just over three years when I bought them at 4c. Just like chris1983 I think I will be topping up with some more soon. Cheers
 
This one will keep creeping up. Been saying it for awhile. I find it to be a safe investment. Thats my opinion though. Research it first people! Looks good though.

Over 4 million shares sold at 15 cents today. This isn't a false breakout on low volume.
 
The sellers keep thinning out. Should hit 16 tomorrow unless some huge sell orders come in at 15.5.

This one has great potential with the new Board. Hugh Callaghan will bring me wealth! I hope. Im like 99.9999% positive this stock is finally on the right track.
 
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