bloodbath
Wow, bloodbath in the commodities sector.
At risk of falling knife I did buy a bit more SBB just now.
At 4 bucks I believe fully diluted market cap is about 750 million. With about 150 mil cash, that's an EV of about 600 mil, for the silver royalty and the gold property.
Even in an butt ugly commodities sector this stock may show some strength if and when some encouraging new drilling results come in. So far they have a consistent record of good results with the drillbit.
Contrary to sisyphus I believe the silver royalty has value. There is no guarantee that Hackett will be mined, but there are no guarantees for anyone. Gold price could plummet and cause all the gold producers to go bankrupt.
Barring a dire scenario, Hackett being a high-value deposit and in a low political-risk area, the odds are good it will be mined. And Sabina's only risk is that it doesn't get mined. So long as it gets mined, they get their royalty even if Xtrata runs into hardships and fails to turn a profit on it.