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SMX $1.70

who would have thought ?

  1. SurG`eon

    834 Posts.

    Well it looks like some of the faithfull have deserted the ship, and those with faith aren't willing to buy any more just yet. Incredible Just incredible ... who would have thought that we would have seen these levels from 48c let alone $3.00. With cash on hand at 19cps we are now trading under the phyical cash backing per share.... They really did blow a tyre last half, although we have been expecting it. The irony is that things are going well now from a utilisation perspective. I also hear that a few with low salability have been let go over the last few days. All good for shoring up profits.

    I suspect that turnover will be very light now until the war is over. Instos are holding on to their cash for the possibility of a wider crash that will put pressure on cash holdings if there are more than the average withdrawals. So no buyers in that department for SMX. Just plain old retail investors.

    Man the rally we will get when confidence returns to the general market will be awesome. I put the value of SMX at >30c so there will be some good gains for the bold!

    This price action starts to look like very ripe for a buyout. I wonder? ....I dont think we will be at these levels for long. The business without the cash is worth 1X revenue ~$80M. Cash on top of that is worth ~$50M. Total $100-120M - this corresponds to a shareprice of 35-38c.

    Wont we be smiling when we hit that level again after the war?


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