agree, one of my larger positions, very yukon (not the hot spot nowadays) focused but really nicely diversified..
with their current Normal Course Issuer Bid, at these prices you cannot do much wrong..
Strategic Metals Ltd. Announces New Normal Course Issuer Bid to Succeed the Normal Course Issuer Bid Which Will Expire on November 24, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2012) - Strategic Metals Ltd. (TSX VENTURE:SMD) ("Strategic") announces that it is making a new Normal Course Issuer Bid (the "New Bid") pursuant to the provisions of TSX Venture Exchange Policy 5.6, to succeed its existing Normal Course Issuer Bid (the "Old Bid"), as accepted by the TSX Venture Exchange on November 23, 2011.
Strategic has not purchased any shares under the Old Bid, which will expire on November 24, 2012, although it has purchased a total of 3,605,500 shares since January 2008 at an average price of $0.28 per share under three successive Normal Course Issuer Bids. The New Bid will consist of the acquisition by Strategic of up to 8,400,000 common shares of its capital stock, representing approximately 10% of the "public float" of 84,694,833 common shares upon the date of commencement of the New Bid. (There are currently 90,156,851 common shares of Strategic issued and outstanding.) The New Bid will commence on November 26, 2012, and will terminate on November 25, 2013.
Strategic is making the New Bid, to succeed the Old Bid (which was limited to an aggregate of 8,400,000 common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic's share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the New Bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the New Bid will be made at Management's discretion based on market conditions, and will be returned to Strategic's treasury for cancellation.