drooling with praise for Sabina
The Back River acquisition, that wound up being about 25% or so of Sabina shares fully diluted I believe.
I'm pretty sure that more than 25% of the current valuation of Sabina is based on Back River.
I like to think that when I was scarfing down Sabina stock in winter 09, that this was one stock where I really got it right.
But, there's actually a bit more to it. I do think that Sabina would have been one of the better performers in the resource sector since the bottom in Nov 2008.
However, a goodly chunk of the great performance of Sabina since then I believe is due to their acquisition of Back River.
So while I do think Sabina was a "diamond in the rough" just based on Hackett River, they made it into an even better diamond by acquiring Back River.