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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@JamesKwantesGood news for shareholders and the $SBB crew. Confirms Back River is delayed not dead. Lots of local support and there should be lots of support in the market tomorrow too for a solid high-grade project. These issues can be mitigated. Sabina a #ResourceOpportunities pick at .39 (in 2015 during bear market)
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@dirkdigglerGood on ya! You've got a solid portfolio of well research company picks @JamesKwantes. Nothing quite like a super-happy subscriber base...... $SBB
@JamesKwantesThanks guys! $LIX at 43.5c has been a nice win too. On $SBB, with these permitting issues being raised by NIRB, CEO Bruce McLeod's 2015 decision to go with a new FS on a downsized mining operation also looks wise in hindsight. Reducing capex was a major goal there. Great to see it punted back to NIRB on the day his dad is inducted into Mining Hall of Fame!
@Tthank you to @Goldfinger for highlighting the potential breakout on $sbb the other day. picked up shares right after you posted that. will have a nice percentage gain after only 3 days! not selling though, long the stock.
@JamesKwantesJust read the feds' letter back to NIRB on $SBB's Back River and it reads like a bit of a smackdown of the Nunavut regulatory agency's report. It's described as "deficient," and there are a long list of issues where "sufficient information was not provided to support the Board's conclusion that effects are unacceptable or that there is an inappropriately high degree of uncertainty"
@EvenPrimeits strange, ive looked all over Chrome - driving me nuts lol. Im trying to find out News on Sabina $SBB - @Tommy showed the NIRB report but I wanted to see what other sources have found this
@GoldfingerThe question of taking profits depends upon you. Your time frame, position size, risk tolerance, etc. It's not a question that I can answer.
Based upon the chart and the news release I would expect some consolidation between $1.25 and $1.45 until the next catalyst comes along. $SBB
@DanielI honestly think that this news put sabina back on the map for a lot of investors and also; Newsletter writers! So i would expect them to do very well. The only question is what will happen to Gold in the next few weeks. Compared to other, simlilar deposits, they still have to play catch-up though. $SBB
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@tommyJust had a quick call with Sabina $SBB CEO Bruce McLeod. He’s very pleased by the Minister’s decision to refer to project back to NIRB for a re-review. Bruce expects a work plan from NIRB that shows the timeline and process for that in the coming days. He’s also going to ramp up marketing efforts. I’m happy to see this positive development for Sabina, one of Canada’s leading gold developers and an obvious takeover candidate. Bruce still says he's going to build the Back River mine. SBB $1.28-$1.29, last at $1.28, up 11.3% on about 1 million shares. @marketwired/sabina-gold-silver-reports-minister-of-indigenous
@ekimAnyone truly believe that the NIRB has endless money and endless resources? IMO, this highlights and may confirm NIRB getting more money from the Fed to make things work more streamline or if not...the whole NIRB process is just going to slow to a crawl as they do re-work and permitting at whatever timeline fits their work schedule. This is going to be either good for nunavut permitting or bad. Not all roses....but maybe a couple of daffodils.
@Excelsior Thanks @EvenPrime and @FundamentalAnalysis for the great conversations in here. Yes that #permitting rant and research process got me reviewing $SBB again. It dawned on me after reading over their press releases they never got their update or decision by the end of 2016. This round there is much more support from the stakeholders and communities involved and they've done a great deal of outreach about the measures being taken to safeguard the environment if they get the green light.
It's a great project, with a great team, and it's very likely it will finally move forward in 2017.... so I decided to get back in the water. Yes, a very profitable transaction, that would not have happened if it wasn't for the great folks chatting here in #mbgtrends. Ever Upward!
@MiningBookGuy@EvenPrime - haha, yeah wish i jumped on board the $SBB train in hindsight! :P
thanks for posting this update...i'll look back through those posts i missed. $SBB definitely has positive momentum and on the M&A shortlist for 2017
@MiningBookGuy@FundamentalAnalysis - I think some of these gold #development projects would have been immediately acquired if gold was smashed a little further over the last 3 weeks, rather than bouncing. I am always curious if acquisitions take place during a bear run or a bull run.
$KAM and $TGM tremendously benefited from the Q1 2016 bull-run, and got an 'extra' premium. But others (like Volta and Ampella in Q4 2013) got a huge premium AFTER getting hammered, literally bought at the seasonal bottom.
Just a few examples...for $SBB, this isn't the best parallel to either of these possibilities. But I think it's worth thinking about where the momentum is, and what previous #takeouts or #acquisitions we can compare to
@schischiI think permitts will coming.. but how long will be the delay of the project for $SBB ...
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@T@Jdc9449, look at $sbb if you dont own already. i see the SP on this steadily increasing. if you go on the channel you will also see comments by @Goldfinger on the next resistance of 1.45 then it will gap up to 1.73
@tommy“We understand and support the NIRB’s desire for a high level of confidence in the mitigation and management proposed and believe that we have defined programs to address their issues,” commented Bruce McLeod, President and CEO of Sabina Gold and Silver $SBB - TSX.
“Back River is aiming to be one of the next gold mines in Nunavut providing much desired jobs, training, infrastructure and economic opportunities to the territory with a best in class approach to protecting the environment,” he said.
@EvenPrime@Jdc9449@T , careful on $SBB. Though Im in with them and believe they are a solid win, they are waiting for approval from the Nunavut Inuit Review Board about the Environment issues - this is a single, yes or no answer that will make or break Sabina, or at least put it off a year each time they reject. Though I believe most other risks are resolved, this one is a major one. Can really hurt ones pocket. That is just my 2 cents - though I admit I bought in last month at the bottom - got in at 87 cents, and looks like a cup & handle may be in the making.
Mutt@EvenPrime Isnt a cup and handle mostly an effective pattern at the bottom end of the market (preferably historic low), in which case its a 62% success rate (or something along those lines)? Anything elese is arbitrary at best. Although I am on board the $SBB train and the standout project fundamentals
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@EvenPrime@Mutt yup, fair enough! I'll retract my statement and follow Goldfingers projections :) He's a billion times better at TA than me :)