SMY - Sally Malay Mining

[rub92me]

SMY is 60% hedged at an average US$5.18/lb to May 2008.
Their managers are not too bright given the spot price is currently 200% higher.

Well, that's still 40% unhedged. Risk averse, sure, but also reassuring for investors with a longer term view.

 

[dubiousinfo]

Well, that's still 40% unhedged. Risk averse, sure, but also reassuring for investors with a longer term view.

Any drop in production would make things mighty ugly for them.

 

[porkpie324]

have been buying smy last week on tue,wed, thur. have been lagging other nickel producers of late, good rise last last fri on heavy vol, also looking good today, any other takers. porkpie

 

[Freeballinginawetsuit]

have been buying smy last week on tue,wed, thur. have been lagging other nickel producers of late, good rise last last fri on heavy vol, also looking good today, any other takers. porkpie

Thursday, and Friday, all I could get my hands on Friday Morning

 

[stiger]

sally malay has nice ring to it.

 

[Freeballinginawetsuit]

sally malay has nice ring to it.

Sounds like an Asian prostitute, should go up & not down though!

 

[rederob]

Sounds like an Asian prostitute, should go up & not down though!

Wrong gender, wrong ethnic origin and wrong occupation.

Sally Malay was an Aboriginal/Afghan stockman born under a bough shed at Sally Malay bore, about 12 kilometres from the proposed mine site, on the 24 December 1924. His mother Juno was on holiday from Bedford Downs Station and she had been walking in the area of Greenvale Station, now part of Violet Valley.

Sally was named after his father Sallay Mahomet, an Afghan cameleer and hawker who travelled between Wyndham and various East Kimberley and Northern Territory stations. He traded with the Lee Tongs, an old Chinese family in Wyndham whose store still stands on the main road to the Wyndham port. Sallay used the area near Fletcher Creek as a depot when he was passing through. He was a friend of Joe Bridge’s who owned Mabel Downs Station at the time, the station on which the Sally Malay orebody is located.

Lucky there is no "3-strikes" rule!

 

[Freeballinginawetsuit]

lol

 

[porkpie324]

rererob, thanks mate for the history lesson, as long as Sallay Mahomet not related to Bin Ladin i,ll hold these for a bit longer, (picked up a few more this morning). porkpie

 

[petee]

rererob, thanks mate for the history lesson, as long as Sallay Mahomet not related to Bin Ladin i,ll hold these for a bit longer, (picked up a few more this morning). porkpie

born under a stockshed and was in flight 93 looking for investors in the twin towers

 

[porkpie324]

seems to be weakness in SMY, inspite of a good exploration an recently, looking at the quotes the support has dropped off too. porkpie

 

[Freeballinginawetsuit]

seems to be weakness in SMY, inspite of a good exploration an recently, looking at the quotes the support has dropped off too. porkpie

I still like them porkpie324, happy to be a holder.

 

[Freeballinginawetsuit]

If SMY goes through $1.32 with volume they might grow some legs and start running.

Their has been some money made on this one in the last few weeks and after the big volume day last week it looks like the consolidation of the past few days might be leading to some movement soon IMHO.

 

[porkpie324]

yes has been a nice earner, sold SMY CFD long pos's last Friday. Picked up somemore during yesterdays selloff and have just closed out. porkpie

 

[rub92me]

On 14 September they announced that drill results were 'imminent' from several projects. Could be ominous rather than imminent since we haven't heard since? (Or too good to be true so they're double checking... ).

 

[Freeballinginawetsuit]

Did grow a few legs on Friday.Not quite running, but a fast walk!
Well extended though and probably only another day before the profit takers kick in.
Passed a key resistance point though, might defy momentum and keep going.

 

[Freeballinginawetsuit]

Still going!.

 

[Freeballinginawetsuit]

Yep, its running

 

[rub92me]

Excellent! Some more good exploration news. Let's see if it can break the 1.60 barrier and keep going. I'm holding on for now..

 

[mlennox]

FOR ALL YOU SMY & CFD DOUBTERS!!!

Bought 6,000 SMY:xasx CFDs @ 1.2356
Sold 6,000 SMY:xasx CFDs @ 1.6800

Profit - $2,636

Whose laughing now!