Summit Resources NL
Formerly Summit Gold NL
Summit Resources share price has seen wild fluctuations over the past two years, as speculation continues over their joint venture exploration with Resolute Ltd at Valhalla in Queensland. Although the new exploration program has been successful in nearly tripling the estimated size of the deposit to about 25,000 tonnes U3O8 (see Resolute Ltd), the rise of the Beattie Labour government to power in Queensland in June 1998 has recently curtailed any further development work. All uranium work is currently stopped and exploration is focussed on base metals, although one can be sure that uranium is likely yo be analysed incidentally in this program.

The main problems with Valhalla are that it is an expensive mine and mill to operate - the ore body is deep and only average-to-low grade, plus the mineralisation is difficult to treat (although Summit claim to have solved this problem that prevented development in the 1950's).

Summit have attempted spirited criticism and even threatened to sue the government over their "loss of value at Valhalla", but at the end of the day, that's life for a company intent on mining the world's most dangerous mineral.

Directors :Colin A N Beyer (Chair), Alan J Eggers (Managing Director), John F Davis, Denis M W Lander, Lynda M Daley
Contacts :Australia : Suite 9, 643 Newcastle Street, Leederville, WA 6007
P.O. Box 1038, West Perth, WA 6872
Ph (08) 9227 9755 - Fax (08) 9328 6322
New Zealand : Level 6, Unisys House, 44-52 The Terrace, Wellington
Website :http://www.summitresources.com.au/
Email :summitresources@compuserve.com
Banking Services :Westpac Banking Corp., 318-324 Lambton Quay, Wellington, NZ
Challenge Bank (Division of Westpac), 1257 Hay St, Perth, WA 6005
ASX Codes :Shares - SMM (Home Exchange - New Zealand and Perth, Australia)
Annual Reports :1997 and 1998. Request by Email
ACN :ARBN 009-474-775 (New Zealand)
(Summit Resources (Aust) Pty Ltd ACN 009-188-078)
Share Registry :Australia : Corporate Registry Services Pty Ltd 152-158 St Georges Tce, Perth, WA 6000
New Zealand : Registry Managers (New Zealand) Ltd 277 Broadway New Market, Auckland, New Zealand
Uranium Prospects :
  • Valhalla, Qld (now includes Andersons and Skal).

    • Top 20 Shareholders (12-Sept-2000)

    Company or Entity
    Share (%)
    1
    		Canning Securities Pty Ltd
    8.72
    2
    		Minvest Securities New Zealand Ltd
    7.63
    3
    		T J N Beyer
    5.73
    4
    		D M W Lander
    2.62
    5
    		A J Eggers
    2.11
    6
    		P N Findlay & W C Young
    1.92
    7
    		S A Eggers
    1.43
    8
    		P H Hatch
    1.25
    9
    		C A N Beyer
    1.18
    10
    		J R Armstrong
    1.13
    11
    		C A N Beyer & T J N Beyer
    1.13
    12
    		L S Coombes
    1.04
    13
    		W D & A E Ross
    1.02
    14
    		N G R Hodgson
    0.86
    15
    		M S Taylor
    0.84
    16
    		M J H Brown
    0.81
    17
    		B C McGirr
    0.78
    18
    		Climax Mining Ltd
    0.77
    19
    		J E & D G Feast
    0.68
    20
    		National Nominees Ltd
    0.68
    Total - 42.33% of Ordinary Shares
    No. of Ordinary Shareholders - 1,695

    Director's Interests
    Share (%)
    C A N Beyer (personal holdings plus Canning Securities Pty Ltd)
    9.961
    A J Eggers (total)
    11.306
    J F Davis (total)
    8.716
    L M Daley (total)
    0.300
    D M W Lander (total)
    10.326

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    References Summit Resources NL Annual Report 1998 to 2000. Plus Mudd (1998).
    Share price graph produced by ComputerShare. With thanks.
    Last updated January 4, 2001.
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