SMM has always been a bit of mystery to me albeit they have certainly done a large amount of serious exploration around Mount Isa. I have read many of their company exploration reports over the last year deducing they hold some very appetising ground for resources other than Uranium.
After reading the last activities report it all makes sense now. Aeon Walford are the JV partners in some of the tenements SMM hold for other base metals in the ground they hold...had no idea!.
I am a shareholder in a number of private companies looking for strategic minerals surrounding Mount Isa and have been keenly watching both Summit and Aeon for some time...we are neighbours.
All I can say is, sometimes a specific resource focus can blinker companies to where the real action is. I think Summit has greater Alternative energy potential resources in some of their ground from what I have seen (geologically speaking) from my experience in the area.
Uranium is still strong especially at the current Oz vs US dollar rates. Demand is increasing , but so is the demand for associated strategic minerals that SMM may or may not hold. That may mean more exploration dollars to be spent, but money is tight right now. Base metals are in a very tight band of demand for the moment.
SMM is a very interesting company indeed. Certainly one to keep an eye on... not AEON
Cheers ,
HR
Just my observations without any serious company DD. Looks solid at first glance.
SMM Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
