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SMM, SUMMIT RESOURCES LIMITED
(*&^%$#@!
post Posted: Sep 1 2006, 09:40 AM
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SMM just added to the S&P ASX 300 list...

S&P/ASX 300
ADDITIONS
IPL INCITEC PIVOT LIMITED
BCM BABCOCK & BROWN CAPITAL LIMITED
SRL STRAITS RESOURCES LIMITED
WTF WOTIF.COM HOLDINGS LIMITED
MDL MINERAL DEPOSITS LIMITED
ABY ADITYA BIRLA MINERALS LIMITED
CMR COMPASS RESOURCES NL
SMM SUMMIT RESOURCES LIMITED
BEI BABCOCK & BROWN ENVIRONMENTAL INVESTMENTS LIMITED

 
Ooops
post Posted: Aug 26 2006, 09:17 AM
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In reply to: misterious on Friday 25/08/06 06:15am

Hmmm Back to the drawing board. blink.gif

 
winnipeg
post Posted: Aug 26 2006, 06:57 AM
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In reply to: ijh on Wednesday 23/08/06 10:29pm

Dont see why a takeover would make life hard for summit. They are still the managers which gives them control. And they still have anumber of other 100% owned very good prospects to drill up.
I think its pride and price. Summit want to be the the next new biggest miner on their own and dont need paladin. Also they have had valhalla for more than 10 years so probably know its value is much greater than what the drilling to date has shown. Look at how little drilling has been done in the past year and yet this is supposed to be the flagship !!
Its still open and at depth but 3 drills earlier this year and 2 miss the target !! cynical , maybe.
I think summit will win the case ,get valhalla and skal at 15% cheaper under the pre emption agreement , put the drills in the right spot , prove up a massive hi grade resource . The share price will rocket ,the labour party will allow new mines and summit will be on track to be a major uranium miner all on its own. Had a few drinks last night so I still might be dreaming. BUT SOMEHOW I DONT THINK SO.

 
misterious
post Posted: Aug 25 2006, 06:30 AM
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There is no doubt smm is way undervalued as far as their resource is concerned, however the market has a great deal of difficulty valuing anything that is dependent on political processes---there is still a way to go before any okay to mine is concerned---we have an election and we all know when politicians get desperate they will promise anything, we also know that the whole nuclear debate is delicate to say the least. Imagine if there was a nuclear accident, or the Iran nuclear debate blew up as it were. The anti's would be on fire, and the "told you so's" wouldn't hold back.-----thus valuations are very difficult.

 
misterious
post Posted: Aug 25 2006, 06:15 AM
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In reply to: Ooops on Thursday 24/08/06 10:25pm

Surely it's no surprise that all the candidates for Mt Isa are backing Uranium mining, I would imagine if they didn't, regardless of party they wouldn't be candidates for this seat.
The old rutine---"don't worry guys I'll persuade them to change but can't do that if I'm not in"----so vote for me!!!


 
Ooops
post Posted: Aug 24 2006, 10:25 PM
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Some News re Qld elections

Attached image(s)
Attached Image

 


 


ijh
post Posted: Aug 23 2006, 10:29 PM
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VUL takeover is a strategic move and could make life hard for SMM thats why they r fighting it.Also SMM talk of sp being way underpriced sound like they r worried.PDN have ambitionds too be up there with the big boys RIO and BHP where uranium in australia is concerned everything has its price might be a battle but certainly could be won

 
dj_420
post Posted: Aug 23 2006, 09:24 PM
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why would PDN make a bid for VUL and then go after SMM, i think PDN best chance is to take over VUL. SMM directore have 30% of shares and another 50% with institutions. it is much easier for them to go after VUL which is what they have done.

SMM wont stay at these prices for long its only a matter of time before a re-rating occurs. from here to the end of year we will begin to see JORC compliant resource definitions which will begin the show the real value of SMM.

Looking forward to more ann from SMM. i think this is huge company in the making, i know the company strategy is too continue right through to mining their resources. a takeover would be met with a huge fight

 
ijh
post Posted: Aug 23 2006, 07:37 PM
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Well the time is right for a takeover stuck @ $1.50 PDN just want its sp too go up a dollar or two and the move will be made with a scrip bid

 
misterious
post Posted: Aug 23 2006, 03:22 PM
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In reply to: ijh on Wednesday 23/08/06 02:21pm

Or we could be in for a prolonged legal bunfight!!

 
 


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