Sabina’s News Release - Let’s break it down Using their own numbers in the press release
For the last 10 years Sabina has always stated its resource in quantifiable numbers (Ounces) and has mentioned Silver Royalty. In this release they do neither! They hide the resource as % increase in B2 assets and they totally ignore the Silver Royalty.
last 10 years: proven & probable, measured & indicated, inferred, & silver royalty.
offer:
Proven & Probable 66% of 9.0 million = 5.94 M Au Oz.
measured & indicated 52% of 18.5 million = 9.62 M Au Oz.
inferred 63% of 7.4 million = 4.66 million
silver royalty - NOT MENTIONED
Total Au Oz. 20.22 Million Oubces of Au GOLD
1. why are they hiding the ounces in % of contribution to B2's bottom line? Just state it like you've done the last 10 years.
2. why is Silver Royalty not even mentioned? Why are you hiding this FACT?
3. Even without the Silver Royalty let's look at value of B2
proven & probable = 34% of 9.0 = 3.06 M Au Oz.
measured & indicated = 48% of 18.5 = 8.88 M Au Oz.
inferred = 37% of 7.4 million = 2.74 M Au Oz
Total B2 = 14.68 Million Au ounces
Stock Price at Offer $ $3.62 Dollars US
so B2's 14.68 million Au ounces is worth $3.62 US but you are selling Sabina's $20.22 million Au ounces for $ 1.40 US?
4. so let me get this straight a smaller gold company (as measured by precious metal assets) buys a LARGER ( 2.22/14.68 = 1.4 times larger) gold company (as measured by precious metal assets) for 38% of the current stock price of the smaller company and you get the $2.40 per share Silver Royalty thrown in for FREE (not even mentioned)
Again this reeks of a self serving hidden corruption by the BOD and CEO!