Tja,so seh ich das auch:
www.stockhouse.com/Columnists/2008/July/28/...-Microcap-Monday
I am sure there are countless examples out there but I cannot think of anything better in North America than Sabina (TSX: V.SBB, Stock Forum, $1.14) – www.sabinasilver.com – Sabina has absolutely nothing to do with coal. It does, however, show you just how wrong the market can be when valuing small-caps and micro-caps. It also puts into perspective the valuations we are seeing on GXS and the wild speculation on the area play stocks.
Sabina, for comparison sake, is just coming off a low not seen for almost two years. At last count it had almost $45 million in cash and investments – 67 cents/share. If we pull out the value of its cash (it has no material debt), this market values its metal in the ground at $28 million. However, consider the numbers:
The Hackett River project (7,144 hectares located in Nunavut) contains an in-place mineral resource of 205 million oz silver, 4.3 billion pounds zinc, 305 million lbs copper, 644 million lbs lead, and 433,000 oz gold.
This is one of the largest undeveloped potentially bulk-minable deposits of its type in the world. To put those numbers into perspective – the gross metal value at today's prices is $9.2 billion! The market says this is worth $28 million. These are proven numbers based on hundreds of drills holes and tens of millions of dollars in exploration. Even a valuation of 1% of the metal value would mean it should be worth $90 million.
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