Bounced (roughly) off of support the other day but the upswing was short lived. As I had stated in a previous post, I was getting ready to re-enter but its descent down to the support line was with higher volume than has characterized the average volume of the last two months. For this reason, I decided to hold off as it didn't sit well with me.
The break was over the 3.5% I usually give as lee-way so it was another reason to hold off. I see some weak support at around 90 cents, but I'm not expecting alot. I've seen what happens when this stock goes below $1.00....PANIC TIME!
That being said, this stock responds to noticeable changes in the POG. A good day for gold usually means a good day for Sabina.
(Conjecture aside...what a bargain.
-Over 6 million Oz Au grading ~7g/t
-Permits in place
-positive studies, showing (iirc) roughly 540/oz all in
-Silver royalty worth hundreds of millions (22.5% of first 190 million Oz, 12.5% there after)
-One of the highest grading projects in the Americas not owned by a producer
All for $1.00. Purely on the specs, one of my favorite plays.
(PS: in their corporate presentations, they often provide a chart comparing other high grade project with 5+ million oz in the Americas and they don't use the Roman V when writing the name Pretium...yea, I'd feel stupid doing that as well.) )