Bought these at 48c in late September, on the back of a solid report about them in RCR's quarterly uranium stock summary (an excellent free download from rcresearch.com.au, next one due in December). With about 2mil hectares under lease and lots of drilling underway, there is plenty to look forward to, I think.
"Now in active early-to-mid uranium exploration programs at a number of projects, SIM has met with early success at Yanrey (WA), adjacent to Manyingee (PDN). Drilling 4Q06 is expected at Yanrey (2,500m), Eclipse (3,000m) and Lake Frome (3,200m). Exploration expenditure for 2006/07 is expected to be around $1.4m (subject to further capital raising). With a current market capitalisation of A$16m, and an active exploration program with encouraging early results, SIM’s share price appears to have good potential for upside appreciation."
SIM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
