Sabina Gold & Silver Corp (TSX: SBB) (Pink: SGSVF) reviewed 10-01-2020
Market Cap: $644 M (USD)
Share Price: $1.99 (USD)
Shares outstanding: 325,000,000
Cash: $80 M (CAD)
Credit facility: Unknown
Long-term Debt: None.
Current operations: No.
Administrative Expenses: Approx. $1.4 M (CAD) per qtr.
Insiders: 35%
Website: sabinagoldsilver.com
Investor Presentations: https://www.sabinagoldsilver.com/investors/presentations
President, Director and CEO: Bruce McLeod
Property located in Nunavut, northern Canada.
Back River asset with two properties, Goose and George.
High-grade, large-scale gold project.
Fully permitted.
Likely 7.0 M oz. at 6.0 g/t and a lot of exploration potential.
Feasibility Study (at $1100 USD per oz) called for 200,000 oz. per year, 3,000 tons per day.
Drill spend: $10M (CAD) per year.
AISC unknown but might be $1000 (USD).
Also owns Wishbone nearby, could push production to 250,000 gold oz per year.
Bottom line:
- The project is shovel-ready, might need financing, retail investors interested, might need a major for this scale of project. CEO stated in June 2020 that the “For Sale” sign is not out.
- The company’s Q2 financial report states they seek financing via debt or equity sale. Chinese investor group owns 9.9% passively (via shares).
- Has some logistics questions due to the property’s remote location?
- No position, but interested