RE: great posts There is no basis to be positive or negative.
On the contrary, I find plenty of basis to be either positive or negative [on the Mongolian deal], depending on your POV. Mine was and remains negative. Even if it winds up "turning out OK for SND" a decade from now, I do not think it was a good deal, for reasons I've stated at length on the SSL board. Granted, there is much we probably don't know (and may never know) about this deal. But there's already far too much intrigue surrounding this project, and the added secrecy is not encouraging.
Fortunately SND did not bet the farm on this deal. They should have bet nothing but at least it is only ~5% of assets
You're obviously referring to SAND, not SND. (GOLDilocks was supposed to have a synergistic relationship with CINDERella. It is increasingly becoming a dependent one.) And O.K., 5% of assets, but what percentage of cash flow? What percentage of borrowing power?...SND - even more than SAND - needs short term cash flow right now, not pie in the sky ten years from now.
That said, I'm still very bullish on both Sandstorms, and will take this opportunity to buy more. (When the fallout appears over.)