Once gold breaks past... $1800 per ounce, the next major resistance level will be $1925 per ounce. At current prices, SBB has about $12 billion of ore in the ground, with more to be discovered and with its value rising. Market cap is at about $600 million with over $150 million cash in the bank and $1.7 billion in zero cost silver waiting to be mined. Based on just the gold property, SBB is trading at less than 4% the value of its gold in the ground. Based on just its silver, SBB is trading at about 25% the value of its silver (note that producing mines typically trade at 20% the value of their ore in the ground, and there is a substantial cost to mining this ore - SBB's cost will be zero).
That said, who sold today at $3.11 per share? And why???
So much for the deflationist theory that all financial assets will crash in value and only those with cash (and bonds) will prevail. Looks like only those with cash (and bonds) will get wiped out and only those with assets will prevail....