Sabina Gold and Silver – More Details On The New Grade Discovery
Earlier this week Sabina Gold and Silver (TSX:SBB & OTC:SGSVF) annoucend a new high grade discovery on its Back River Gold project. The headline numbers of 11.58g/t over 39.5 meters provided a nice bump in the stock price.
I followed up with the President and CEO Bruce McLeod to get some more information on the drill result and overall story. We discuss the already large resource that Company holds plus how he hopes the more exploration focused drilling this year will advance the Company.
If you have any follow up questions for Bruce please email me at Fleck@kereport.com.
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Click here to visit the Sabina website and read the full press release.
August 20, 2018 – (SBB) (SGSVF)
SABINA GOLD & SILVER DRILLS NEW HIGH-GRADE DISCOVERY AT BACK RIVER GOLD PROJECT AND INCREASES SUMMER DRILL PROGRAM TO 12,000M
>> Drill hole 18GSE545 returns 11.58 g/t over 39.50 meters confirming significant new discovery at the Nuvuyak Target
> Drill Intercept located approximately 1 kilometer to the west of the Goose Main Deposit
TD’s Earle Bullish on $SBB’s Nuvuyak Discovery with $3 12-month price target:
“The company trades at 0.39x NAV5%, which is a discount to its peers. We view the completion of financing as a key catalyst for the company to begin re-rating to an eventual producer multiple. A post-financing development comparable would be Lundin Gold, which trades at 0.67x NAV5%. However, if the company demonstrates the Nuvuyak discovery has significant size (and production) potential, it could re-ignite takeover speculation.”
Hi Cory
Please ask Bruce to explain in detail what the company is going to do in regards to Glencore and the silver royalty SBB has with them. Major decisions are coming due in October if not mistaken. Would they look at a major taking over the royalty @ Hackett and getting involved with Back River. So SBB can get major value out of Back River and Hackett also if Glencore walks