RE: Looking for new propertiesV99, Thanks for your thoughtful post. If we start with the latest presentation(Sept 2008) I notice that on slide 14/16 that they are NOT looking for grass roots properties. What they would consider is something with an existing resource. It would be great if they are looking for an advanced stage project that is further advanced than Hackett River, but they don't exactly say that. But if you look at slide 13/16 they sure spell out that the Hackett River is in the dead money stage. So it would make sense to find something more advanced.
Maybe they are considering a merger of types. Here is a quote from the Aug 21 PR:
"I believe that we can do that byacquiring another asset: one that would complement our advancedHackett River project. This year, we have done the essentialwork needed to push Hackett River and our other explorationprojects forward, but have focussed on preserving our treasury.The current market presents many affordable opportunitieswhich, combined with our excellent balance sheet, puts usin a very strong position. Over the past two months, managementhas been proactive in communicating within the M&A community.We have been and continue to be presented with proposalsand ideas which we are now evaluating. Although the Companywould prefer to focus in the Canadian North, we will consideropportunities in other politically stable jurisdictions."
Sounds like they are open to many options. I wouldn't be too worried that we have not been bought out yet, the market is swamped with great companies that could be considered take over targets based on the market cap vs. assets held. Soon both gold and silver will resume their moves higher due to the high inflation (expansion of money supply) being set in motion in the USA. Once that happens, it should be within the next 6 months, the share price of most juniors will double in one day. And for the high quality juniors (like SBB) they will double again in very short order.
My guess is that many investors will make a big mistake by selling way too early.
-Alex