to be frank, i think there is a bag or two in this one too. about 12months ago there was a spike from mid teens into the 20s based on some drill results. a re-rate leading to a return to mid 20s would do me fine.
still got good prospective ground and a low number of shares on issue. drill results indicate copper systems are there. market cap is around 10m which ex cash values the tenements at ~7m. this seems to be too low given the location and results to date.
hence my view this one represents good value at current prices.
glta
SMD Price at posting:
9.7¢ Sentiment: Buy Disclosure: Held
