RE:get realisticRight, but a lot of companies pouring bricks are in deep doo-doo as well!...I think CASH is the thing, and Sabina still has $60 million of it. IMO they've blown too much on new exploration, but it looks like they've packed up the drilling rigs and plan keep their costs minimal now, at least until the price of gold turns up or Xstrata makes a decision on Hackett River.
Their management history suggests that the path they should take is the royalty-exploration model, unless they can comfortably self-finance a mine with their silver royalty and a solid JV. The hard part is going to be staying solvent and not getting bought out for a song in the interim.