a punt on a bligh election loss, page-8

I posted some comments on the PDN thread earlier and copy the post below.In the last Annual Report the substantial holders were PDN 82.08%,Areva,10.04%,Revelation Special Situations Fund 5.1% and the top 20 held 98.92% leaving the remaining 700 holders with about 2.2 million shares.In January 2011 SMM was selling at $3.90 then started falling and the fall accelerated after the problems in Japan to bottom at $1.50 in June.Since then SMM has been in a range of about $1.60 to $1.80 with volume usually less than 100,000 a MONTH.I think the thin trading frightens the traders off.
With the proven orebodies and the gloom lightening on uranium you would expect SMM to be selling higher so I guess the thin trading is the problem.If uranium mining is approved in Qld the 700 shareholders would be a nuisance to PDN and Areva so it would be in their interests to buy them out.
In the meantime I am holding.


"If the bookies are right Robbie Katter will take Mt Isa from Labor and he supports uranium mining.

http://www.townsvillebulletin.com.au/article/2012/03/24/316821_news.html

and from

http://www.abc.net.au/rural/qld/northwest/

Mt Isa candidates state their position on uranium

Paul Sutherland

The potential for uranium mining in north west Queensland was explored at an election debate held in Mount Isa last night.

Representatives from Labor, Katter's Australian Party and the LNP each stated their positions on whether the mineral should be mined.

Robbie Katter from the KAP says he is totally for the development of the resource because it will bring more wealth and prosperity to the region.

Mick Pattel from the LNP and Betty Keirnan from the ALP say their parties are against the mining of uranium but both say they are willing to continue to judge the community's position on the issue."