Silly valuation!Hey, All,
How's everyone doing? I haven't posted recently, as the market continues to hammer the PM juniors (including SMD). But now? As far as I'm concerned, the market value of SMD is so silly I am compelled to comment...
As far as I can determine, the market valuation for SMD is now BELOW the value of just two its portfolio companies: Broden Mining and Terra CO2. Apparently, the value of its cash on hand, five other portfolio companies, their investment fund, and the over 100 stellar properties they own for option (mostly in the Yukon) are all worth LESS THAN ZERO?
The last time SMD shares got this low (last Fall), CEO Doug Eaton bought upwards of a million shares in the open market. He's buying again:
https://www.canadianinsider.com/company?menu_tickersearch=SMD%20%7C%20Strategic%20Metals
IMNSVHO (In My Not So Very Humble Opinion), SMD is the most compelling buy in its history. I've bought as much as I can and had sell some of other investments I hold dear to do so. SMD is now ~46% of my portfolio. I'm no Warren Buffett, but also concentrate my investments into companies I really like. Buffett once commented on his investment style by quoting Mae West: "Too much of a good thing can be wonderful!"
Sure, SMD could go lower if the junior PM markets continue to get monkey hammered. But in the long run (which finally may not be that far off) - when SMD is valued properly - I think it'll amaze us all.
GLTA, F1