Australian (ASX) Stock Market Forum

SMO - SMC Gold

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I just read a post by someone in the BREAKOUTS section re SMO .
So I went to Westpac securities webpage.Selected forecasts ( I'm talking here re: Westpac ) for the SMO securites .It lists a STRONG BUY by ABN AMBRO. So I goes to the website of SMO .......and I select & scroll down the PDF file re ABN AMBO's ................and guess what.................

REGULATORY DISCLOSURES
Mentioned Companies: MCC, PDN, RIO, CTX, XTA.L, LAF, AA.N, EMP, KZL, HIG, KIM, JBM, ILU, SMO
ABN AMRO Morgans was Lead Manager to the placement of shares in Lafayette Mining Limited in December 2005 and received fees in this
regard.LAF ABN AMRO Morgans acted as Lead Manager to a placement of shares by Lafayette Mining in March 2006 and will earn fees in this
regard.LAF ABN AMRO Morgans was Joint Lead Manager to the placement of shares for Emperor Mines Limited in May 2006 and received fees
in this regard. EMP ABN AMRO Morgans was Joint Lead Manager to the placement of shares for Highlands Pacific Limited in March 2006 and
received fees in this regard. HIG ABN AMRO Morgans was a participating broker to the placement of shares in SMC Gold Limited in December
2005 and received fees in this regard. SMO A director of ABN AMRO Morgans is also a director of SMC Gold Limited. SMO An analyst or a
member of any analyst’s household who participated in the preparation of this report has a shareholding/financial interest in this company:
LAF, EMP, HIG
 
So you are saying they are trying to plug them because they are share holders?

Doesnt change the facts of the company. Going to be making profits. No more debt. Expanding the processing facilities of their mine. Will be expanding the resource with their future exploration. In my mind that brings me profits.
 
chris1983 said:
So you are saying they are trying to plug them because they are share holders?

Doesnt change the facts of the company. Going to be making profits. No more debt. Expanding the processing facilities of their mine. Will be expanding the resource with their future exploration. In my mind that brings me profits.
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A good wager it is, and thats why its always a good idea to ensure you are on steady ground with any investmest. Buy understanding and re-asuring your analyis by all means. SMO an excellent example of Profit Compound and how pretty it can be.
 

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Trades

108 - 109 12:01 pm 17 2,000,000 $340,000
99 12:35:10 pm 17 800,000 $136,000
28 8:20 am 17 500,000 $85,000 1
26 10:17:43 am 17 1,000,000 $170,000
24 10:10:14 am 17 2,500,000 $425,000


Huge buy orders coming in when the SP was dropping to 17 cents. Some of the big boys may be accumulating. Really great support.
 
chris1983 said:
Trades

108 - 109 12:01 pm 17 2,000,000 $340,000
99 12:35:10 pm 17 800,000 $136,000
28 8:20 am 17 500,000 $85,000 1
26 10:17:43 am 17 1,000,000 $170,000
24 10:10:14 am 17 2,500,000 $425,000


Huge buy orders coming in when the SP was dropping to 17 cents. Some of the big boys may be accumulating. Really great support.
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It broke out on Monday, so probably shouldn't chase prices up.

Also notice the similarity with the last spike 6 months ago, although this time is a stronger impulsive move.Wait and see how the price action and volume pan out would be my move.
 

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Message this morning. I think investors are starting to become more confident with the boards knowledge and expertise believing they will deliver the goods. The ball is rolling. They look set to do well from here.

"SMC GOLD STRENGTHENS COPPER EXPERTISE WITH APPOINTMENT OF KEY NON-EXECUTIVE DIRECTOR SMC Gold Limited

(ASX: SMO and the “Company” ) is pleased to announce the appointment to the board effective immediately, of Mr James (Jim) Squire as independent non-executive director.

Mr Squire has extensive senior executive level experience with some of the world’s leading mining houses, including over 30 years’ experience within the Rio Tinto group of companies."
 
Yes - SMC has a very strong and commercially experienced and potentially quite aggressive board. Smarter than the boards of most mining companies of comparable size. This is yet another good reason to accumulate the stock.
 
See message below.

The great thing about SMO is that they should be able to fund their exploration through their current cash flows.

Strategic Review of Charters Towers assets

• Two stage Australian exploration program announced for 2007
• A$800,000 to be spent on exploration around Charters Towers

SMC Gold Limited (ASX: SMO and the “Company”) announced that during October 2006 an independent geologist has reviewed available information on the exploration tenements held by SMC Gold Limited in and around Charters Towers, North Queensland.

Following this successful review, the Company is looking to commission a two stage exploration program involving both geophysical surveys and targeted geological drilling. SMC Gold’s Managing Director Mr Michael Fischer said that it is the intention of the Company to begin an exploration program at the start of the 2007 calendar year.

“The Company recently established a project team with the stated objective to actively review and progress value enhancing strategies for our Australian assets. We have now completed the geological review, and I am confident that the forthcoming exploration phase will better position the Company to extract value from its Australian assets,” Mr Fischer said.

The first stage of the exploration will involve a program of ground geophysics including ground Magnetics and IP to identify drill targets over the cornishman Breccia Zone, as well as a series of RC holes drilled in the Hadleigh east area of the mine corridor, adjacent to the abandoned Hadleigh Castle open pit area (see Location Map and Geological Targets diagrams attached).

Mr Fischer said that success in the first stage of this exploration program may lead to the identification of drill targets at Cornishman, and potential in-fill drilling at Hadleigh East, which will be planned as part of the second stage of the program.Depending on the results of the geophysics at Cornishman, and the RC program over the Hadleigh east mine corridor target, a second stage of the exploration program is planned as a follow-up drill campaign, with a potential of six positive responses requiring follow-up drilling.

“We have budgeted some A$800,000 for the proposed exploration program and we are currently finalizing funding for the program,” Mr Fischer said.
The proposed exploration program will enhance the value of the current Charters Towers Exploration tenements, and any success will in the longer term add significantly to the value of the business due to the area’s proximity to the Rishton Mill complex.
 
Up to 19 on good volume. This one IMO wont show much of a retrace. It has been a nice steady/gradual rise which definately wouldnt of attracted too many day traders. This is a stock for investors who want to see what the board can deliver.

I think it will keep going into the mid 20's then stabalise around there untill they upgrade their resource and get their mill upgrade at Punitaqui in place.The engineering work has already commenced and the programme of upgrades to crushing and milling circuits and the concentrator is expected to be completed by January 2007. So keep your eyes on this one over the next 3-4 months
 
chris1983 said:
Up to 19 on good volume. This one IMO wont show much of a retrace. It has been a nice steady/gradual rise which definately wouldnt of attracted too many day traders. This is a stock for investors who want to see what the board can deliver.

I think it will keep going into the mid 20's then stabalise around there untill they upgrade their resource and get their mill upgrade at Punitaqui in place.The engineering work has already commenced and the programme of upgrades to crushing and milling circuits and the concentrator is expected to be completed by January 2007. So keep your eyes on this one over the next 3-4 months
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The crushing circuit is the biggest problem they have due to hard ore was told at EGM that it's like using your home blender to do the job :banghead:

cheers laurie
 
So to the holders of SMO. Whats your opinion? Great stock..making profits..good management now in place. Probably a good hold IMO.
 
"Shareholders will be asked to approve a change of name to Tamaya Resources Limited at the forthcoming annual general meeting planned for November 27, 2006."

What do you guys think of the name change? I like it. Atleast it isn't SMC Gold. Put the bad past behind us! A new beginning :)

They are travelling nicely atm with a nice uptrend
 
I'm going to the AGM and ask Hugh Callaghan for forgiveness because I said at the EGM that SMO was a dog of a share......well I was right

cheers laurie
 
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