sabina Sabina dipped into the 2.1x range today, almost bought some more but refrained. Now it's back to 2.30s and I see my other golds Eastmain and Agnico are up also, despite the price of gold being down.
If gold stocks underperformed the price of gold for so long a time it seems like the reverse is bound to happen at some point.
Sabina's low was at a fraction of a buck. One reason it doesn't bother me so much seeing my SBB valuation drop is that I made a lot on them previously.
But I sincerely doubt they will retrace those lows. It would take another 2008 economic meltdown. And even then, keep in mind Sabina is a different company, they have far more cash and back then all they had was Hackett River.
If Sabina dropped to .50 per share it would hurt as far as my existing shares. On the other hand, if you figure like I do that long term Sabina is going to 10 or 20 or 50, I don't know that there's too much reason to fret over how it gets there, whether it gradually rises from here or if it plummets to sub 1.00 range before eventually reaching the promised land.
One thing I guarantee, if it dropped a lot more, I would not panic and sell, I would buy a bunch more.