RE: RE: Am I Crazy or is SBB a No-Brainer? Thanks, seanybody....Not only is the market saying "Hackett River isn't worth much of anything", with SBB going for near cash value, it's saying Back River and all of Sabina's other properties aren't worth much of anything either. In other words, Sabina is toast. OTOH, even if Back River is a total write-off, all Sabina has to do is resist burning through its cash pile on exploration and its got to be worth at least what its selling for, even if the Hackett River deal is a long shot. (Which I don't think it is, and not by a long shot.)
It looks to me like the main risks here are the opportunity cost of sitting on SSB for a perhaps as much as a couple of years until a firm decision is made on Hackett, and the potential for a buyout on relatively unattractive terms. Pease has sold out twice before, but both times after huge runups, and he claims to have come out of retirement for the opportunity to take this one to production. (Third time lucky?)
At any rate, I put Sabina in the rags or riches basket, and don't plan to put more than 5% of my port into it if I go ahead. Most of my non-cash holdings are in SAND, SSL, and silver bullion, so you can see I like a little excitement. What say the rest of this great board? Come on guys, time for some target practice!