minesite story....sabre, page-3

The deal was not announced I don't think when that story was written, since it arrived with the annual report.

I don't like the deal either, even though the shares come out in 2008. I guess the fund took a risk at the time and the deal was done when SBM was not worth much, and SBM has been rerated since then.

I voted against it. It could slow SBM's rise a bit, till people forget about it I guess. But it would be better if SBM could find another way, maybe they will buy it out? But the structure proves that SBM will make money, since otherwise they wouldn't bother setting up all this structure.

I plan to hold long term, the market cap is still cheap even with the additional shares, and I think Ed is serious about transforming it into a large gold mining house.