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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.
@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 :)
@tommy@Stealinator incentives for board and management in accordance with $sbb stock option plan. Pretty much every listed company has one. Does not seem out of the ordinary. My only complaint is that you and I didn't get any!
@marketwiredSabina Gold & Silver Reports Nunavut Impact Review Board provides direction for re-engagement on Back River Gold Project @marketwired/sabina-gold-silver-reports-nunavut-impact-review$SBB Sabina to file a Final Environmental Impact Statement ("FEIS") or addendum within the next several weeks. Sabina anticipates that the NIRB could issue its new recommendation to the Minister in mid-2017, subject to the NIRB's ultimate issued timelines.
@JamesKwantesJust watched the Don McLeod tribute video - what a character, what a track record and storytelling at its finest. On the minebuilding front, cool to see son Bruce McLeod pushing $SBB's Back River through some permitting adversity towards a mine build. And nephew @robmcleod at $IDM's Red Mountain of course #gold
@ExcelsiorI'm a fan of Constantine and have a small position, but I've been reading about some of the resistance to this project due to the Salmon run and Bald Eagles and just wanted to reach out to see if anyone has any thoughts on if this will be a $DealKiller ? I just don't want to get embroiled with another environmental permitting mess like w/ $SBB and the Caribou.
$CEM$CNSNF Constantine Metals
A Canadian mine threatens the 'heart and soul' of an #Alaskan community
By Charles Mandel | March 30th 2016 #Permitting
"...Ordonez is fighting to preserve that same natural grandeur - which includes a world-renowned bald eagle preserve - from a proposed copper, zinc, silver and gold mine upstream.
“It’s a terrible location for a mine,” says Ordonez, who previously worked as a naturalist on cruise ships, work which took him from the Amazon to Antarctica, and who today operates a tour guide company in the region.
“I’ve worked in all seven continents. I’ve seen the most amazing places in the world and here’s one of them right where I live in Haines, Alaska. It’s just not worth the risk. “
"Constantine Metal Resources, a mineral exploration company based in Vancouver, British Columbia, believes the proposed mine location - known as the Palmer Project - is rich in #copper and #zinc as well as #gold and #silver."
"If developed, the mine would sit approximately 60 kilometres upstream from Haines, adjacent to the Klehini River. The Klenhini is a major tributary of the Chilkat."
"Not far from the Palmer Project the two rivers merge and at the confluence sits the ancient Tlingit community of Klukwan, whose name translates to mean eternal village."
Ordonez describes the village as one of the longest continually inhabited places in the Americas. “The people there today still catch fish right off their back door and live on it.”
“The place is alive with salmon, eagles, bears and moose,” Cohen says.
“The Chilkat River is the heart and soul of this community.”
"But Cohen views the mine as a threat to this unspoiled region. “Once they build the #tailings pond and they’ve got millions of gallons of waste water held behind an earthen dam, there’s basically a sword hanging over the heads of the community forever, because that #tailings pond will have to be maintained in perpetuity.”
@AllanI wouldn't be in a hurry to buy $SBB, that project is going to be delayed for a long time. I saw the spin they put on the news but the reality is the Minister sent it back to the board that rejected it and wanted more details. I doubt they are going to back down now. For the spin to be right NIRB would have to say they messed up and then provide a new course of action and details on how they screwed up and an argument for the new direction. My guess is they finish the paperwork the Minister wants and it will have the same conclusion. Not now, maybe later when the caribou herd is not at dangerously low levels.
@T$SBB i think the minister basically said they messed up when he sent it back to them @Allan. and as far as not being in a hurry to buy, the stock has almost doubled from the low in december. anyone who hasnt been in a hurry has missed the runup this year
@Tfrom my perspective @Allan, incomplete work is messing up. their claims to me seemed like they were stretching a bit. but again that is my perspective and not worth much. you have much more experience in this area than i. $sbb
@lukejacksonI think that terribly diminishes the importance of the development of an advanced project like Back River. Projects of this scale and feasibility are rare, and are important job creators in remote regions. I'll take the other side there - I think this project gets approved in 2017. Because of its scalability and jurisdiction I'd bet its atop the list of takeout targets for majors. $SBB just how I see it.
@FundamentalAnalysis@Allan Tbat may partly be true, but regardless of the permit situation once the gold bull market gets going, this stock will still rise. That's how bull markets move things. All the micro things becomes irrelevant to the market. It would just be an added bonus/uplift in the share price if the permit is sorted.
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@HRA-CoffinHmm... Maybe Victoria first, though I think $SBB has the larger gain potential from here once the permitting is dealt with. There have to be at least 3-4 miners thinking of pulling the trigger on that one.
@HRA-CoffinI don't think $SBB will have a problem (or more problems I guess) getting permitted, ultimately. Don't know how long "ultimately" will be but I don't think that long. Sounds like those opposed were a minority and not really "locals".
@Wannabeinvestor@Goldfinger, yeah, nice set of intercepts from Sona Hill. Really high grades for an potential open-pit operation. Let's see once what the resource estimate for Sona will be, but is sure looks like a HG starter pit at Sona is becoming a reality. $SSP, $SBB and $VIT are my optionality plays in the $gold space.
@DJSJust compare $SSP's MC to that of $VIT, $MAX and $SBB. Way too much of a discount being applied here for Guyana and other perceived risks. $SBB will take off when it gets its long overdue permit, and any of these companies could be taken over for synergistic or other reasons, but otherwise $SSP will outperform these and most of the other optionality plays in the coming months.