Our opinion on the current state of SEAM(SXM)This is a very thinly traded mining exploration company. It bought two gold projects in the DRC in 2020. In its results for the year to 28th February 2023, the company reported a headline loss per share of 143,34c compared with a loss of 141,76c in the previous period. The company has a negative net asset value (NAV) of 741,36c per share.
In its financials for the six months to 31st August 2023, the company reported zero revenue and a headline loss per share of 70,65c compared with a loss of 55,58c in the previous period. In a trading statement for the year to 29th February 2024, the company estimated that it would make a headline loss of between 45c and 55c compared with a loss of 171,88c in the previous year.
The share is virtually untraded on the JSE. We would strongly advise that you leave this share alone.
