RE:RE:No shortage of complainingMaolain1: Thanks for the long reply, and my congratulations on what is one of the best posts I've ever read on this board. (To be clear, my post was not directed at you specifically, I just sometimes like to piggyback my posts - and post titles - on someone else's.)
Agreed about the unfortunate degree of irrelevant posting, but thats just par for the course when nothing much is going on. It's good to at least see the board remaining active and regardless, what is irrelevant to one person may not be to another.
I agree also about the SND acquisition. But let's face it: SND was an experiment with a disastrous outcome all around, and I didn't expect the resolution to be much of an improvement. I'm glad to see Sandstorm moving beyond it and although the purchase price was probably too high, as you said, it's difficult to put a value on a company that nobody else is queueing up to buy. A case be made that the value was what was paid or even a bit more, but also that it was zero.
I don't know the exact reasons for the delay in new deals. The way I look at it Sandstorm has been going through a sort of mid-life crisis, reevaluating its priorities and direction in the wake of the CSI reorganization, and certainly the SND acquisition can be viewed as the culmination of this process. But a delay in closing deals doesn't necessarily indicate a delay in filling the pipeline or with deal-making negotiations, and that's why I expect to see a flurry of new (smaller) deals coming soon.
There is an opportunity cost in delaying, but OTOH the longer the wait, the greater the opportunities are likely to become in this distressed market. One thing I've learned (the hard way) in investing is not to cry over a missed opportunity, because there is always another one around the next corner.