Hi, Gang,
At C$0.54, SMD is now selling at a market cap of
US$43.5mm--~US$6mm BELOW its current book value.
Here are the components of book value (which I track in US$, as I'm in the States):
- US$6mm--cash by year's end (even though its $7.5mm now, per Doug);
- US$21mm--wholly owned property interests;
- US$21mm--market value of stock owned in their portfolio companies: SNG, RK, GGL, PRG, and Terra CO2; and,
- US$1.5mm in other stock holdings (TG, ATC), their investment fund, royalties, optioned props, etc.
TOTAL BOOK VALUE: ~US$49.5mm. Current market cap: US$43.5mm. Put differently, SMD shareholders buying now are are not only getting the possible explosive potential pending via Mt Hinton assay results; the wonderful potential latent in Rockhaven's Klaza drilling; staggering disruptive potential of TerraCO2's technology; as well as growth from SNG's and GGL businesses
for free, but at a 13% discount off book value!
This is absurd. SMD will be selling at a big premium if
any one of these catalysts hit, let alone if more than one hits. Especially in a gold and silver bull market.
This outfit currently comprises about ~56% of my portfolio. I'm always fully invested, so raising funds to buy something takes a bit of time for me. At these ridiculous prices, it's worth the effort... I'm doing what I can to raise funds to buy more SMD.
GLTA, FI