RE: RE: RE: Excellent Atac Assays...Ho-Hum a4shah wrote that SMD has $1.75/share of cash, TBills & securities. Much as I would like to believe these numbers, I think that the correct figures, though very good, are not quite as high as this.
The July 2012 Corp Presentation says that SMD had about $66 million of Working Capital (cash, TBills & marketable securities) on July 4 (pg 5). A breakdown of the marketable securities is given on pg 8, and as these total $41 million, then the cash & T-Bills portion of the Working Capital must therefore be $24 million.
If we divide the Working Capital of $66 million by 90 million outstanding shares then the Working Capital comes to about 73 cents per share. The table on pg 9 of the presentation is a bit confusing, but the dashed line is supposed to represent this value.
So, although the number I come up with is lower than the previously stated value, still, 73 cents per share of Working Capital is a fabulous number when the shares are trading at 79 cents.
I agree with a4shah that this stock looks like a great buy, particularly if SMD, ATAC or any of their affiliated companies has some drilling successes this summer. Five years from now, we might well be shaking our heads wondering why we didn't buy more at these prices.