RE:RE:RE:RE:RE:RE:Nice to See..........
Feel like I'm turning into a defender of all things F&M, but I feel the need to respond to bashers who have absolutely no idea what they're talking about.
Do some research on SMC, besides owning a large stake in Aguia Resources and Belo Sun, two world-class projects, they own numerous other stakes in smaller but high-potential companies like Aberdeen International (co-owner of Lithium-X's flagship asset in Argentina), Euro Sun Mining (largest gold resource in Europe) and more recently, QMX Gold and Emerita.
they also have the option to purchase 100% of the Troilus mine, which currently has appx. 2-3 million ounces of gold in the Abitibi region in Quebec. Sulliden expects there will be material annoucements regarding Troilus in the near future. While I don't know this, I would surmise that Routemaster, as a F&M-affiliated company, is aquiring this stake to ensure if/when the news materializes, they'll be less prone as a takeover target. Having more shares within the organization will ensure that subsequent votes and the such will be in the best interests of long-term shareholders. Current intrinsic value of SMC is $0.60 in marketable securities and cash today, not including their stakes in Troilus or East Sullivan.
For anyone to look into SMC and say that the portfolio is filled with crappy projects is either ignorant to the holdings, or being disingenuous for some other reason. Look, I understand being cynical, and I myself have been disappointed with some F&M-affiliated holdings I have, but to outright call these assets crappy or valueless is irresponsible and misleading to other readers.
Sulliden Mining Capital was spun out of a previous success, and for shareholders looking beyond just the next quarter, has set itself up to do very well in wake of recovering both base and precious metals in the years ahead. Full disclosure, I have a stakes in LIX, AAB, SMC, and QMX, which were mentioned in my post.