I’m always very wary of investing in small mining companies, as even when the management team and the assets look decent, it is still a bit of a lottery as to whether the company will actually make it to a stage where it is making a profit and returning money to shareholders via dividends.
Yesterday I praised Strategic Minerals (SML) for the open and honest way it described a possible deal involving a bank Letter of Credit that was yet to be signed. I did not say the shares were cheap or expensive but I offered praise - HERE. I take it all back after a ramptastic release today which sees the shares, quite rightly, 10% down at 0.825p. Scumbags.
It never ceases to amaze me how small AIM companies can sometimes continue to see large share price rises, even once the company has put out a statement saying that it knows of no reason for the recent rise!
As I note often most folks on Bulletin Boards are good decent beings. A few are total monsters or morons or both. But there is the odd total genius. Step forward Marab on the ADVFN Strategic Minerals (SML) thread.
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