RE: DON'T PANIC Excellent advice prmanalyst and one I follow to.
The news out from Strategic Metals is like the signs on GQC last year. You could see obvious signs that things were likley to change if you just waited for them to iron things out. Somebody just paid Strategic Metals $30 million cash for their 5% NSR in Casino along with a couple of other smaller royalties. If Casino is fully permitted by 2016 then that 5% goes to 36 million.
If they would put a value of $30 million on 5% then does that mean that 100% would be worth in the neighbourhood of $600 million now. Obviously there is some value to the other projects but the news seems to focus on Casino. It looks like somebody just said they think Casino is going to be worth a lot of money and they were willing to pay $30 million for 5% of the net smelter money.
I think your going to see a more bargain hunting like this with these types of companies. NFR to the east of Casino is another one with lots of dirt cheap gold and they have made a bunch of changes showing management is thinking about the future
Here's the Strategic announcement.
STRATEGIC METALS CLOSES SALE OF ROYALTY INTERESTS AND RECEIVES US$30 MILLION PAYMENT
Strategic Metals Ltd.'s royalty purchase transaction reported on Aug. 3, 2012, has now closed. Strategic has received $30-million (U.S.) and sold its royalty interests in the Casino, Logtung and Wolverine deposits to 8248567 Canada Ltd., an arm's-length purchaser. Strategic will receive an additional cash payment of $6-million (U.S.) if the operator of the Casino project has obtained all necessary permits and authorizations prior to Dec. 31, 2016, to construct and operate the project as a producing mine.