Replies to post #11179 on Value Microcaps Junior Miners

[cl001]

SMC is one of the special cases that a brutal bear market created some unbelievable bargains.
In 3 months, SMC crashed from 2 dollar to 6c due to the banks withdraw their written commitment. In the mean time, SMC drilled and discovered a big high grade zone. But it was COMPLETELY ignored by the market!
Now look back, thanks to the big slide from 2 dollar to 6c. Every weak hand was shaken out of SMC. Only very few stubborn bag holders still holding. Now we are in an unbelievable situation: Due to the high grade discovery, even at 2 dollar, SMC is still undervalued. Remember, some time when day traders or funds are behind a small cap, it can become OVERVALUED for a long time. To answer your question, I don't know what's the top of SMC, it may have some resistance crossing 1 dollar and probably more resistance crossing 2 dollar. However, there is always a chance another suitor come in and starts a bidding war.