RE:RE:RE:.42 this MorningTreetop2 wrote: 99's, I have watched SMF for years and I think it has always been overvalued, even at today's price. I think what attracts people is a cash balance mostly leftover from their former glory days. They have made a bit of cash for a couple of quarters (after a string of quarterly losses), but their margins could vanish with the fall in gold. They mislead investors by claiming a very low 'cash cost', while classifying substantial costs as capital or sustaining capital, although they are essential to staying in production. No way their current reserves can sustain 'low cost' production or profits for long, which is why they are looking for an acquisition. A smart or lucky acquisition is probably their best hope, but not something I would bet on.
You can say that about a lot of miners these days with the exception of TG who came to existence at the top of the gold prices. I think gold and miners will suffer for a bit here. I like TGs chances I'll be buying when dust settles.
I'm picking three BTO, TG and tbd