RE:It's Not Over YetAgreed. It is far from over... I bought 25,000 more shares in this downdraft--at C$0.425. Now with a market cap of ~C$42mm, SMD is priced ~C$22mm BELOW its book value (comprised of cash, wholly-owned property interests, the value of it's 5 main portfolio companies, as well as other, smaller investments.) We'll see how the other Mt. Hinton drill holes come in...
Regarding Terra... Someone(s) invested US$9.2mm into the company at US0.22 (about C$12mm), which lowered SMD's ownership stake to ~22%. Three things about that... First, do you think anyone would invest money into the technology if they thought it was a flop? I perceive that as a GOOD sign.
Second, SMD still has 7.5mm warrants they can exercise at C$0.25, by Sept 2021. That'd lift their ownership stake back up to about 29%.
Third, at least now no entity can undertake a hostile takeover of SMD as a way of gaining control of TerraCO2. IMO, this investment is an important vote of confidence that served many purposes, and SMD remains poised to participate bigly in any upside that MAY come from Terra.
SMD has lots of irons in the fire. I hope I'm able to sell a portion of some other positions in time to buy more at these levels.
Cheers, F1