Well put. 

Not many people (including me) are denying there is much higher risk involved (mainly political) in this deal than in any other deal SSL has done so far (and may potential reward if any). 


Management has a fair bit of money in SSL/SND - I am sure they are keeping close watch on the stock price - NW mentioned in the BMO conference yesterday that they signed the deal in Mongolia and stock price went down.


What it boils down to is whether one thinks that NW can learn from this and other experiences (irrespective of how the ETG turns out) and continue doing what they have been doing for last 4 years - add good streams to the Sandstorm portfolio and increasing shareholder value. 


If the answer is Yes - then SSL is a good buy and in 2-3 years when Sandstorm's portfolio includes 15-16 streams (out of which one will be ETG) - the stock will probably be higher than where it stands today. 

If the answer is No - then better to sell any SSL stock you may be holding because in the end you are buying into the management team when you are buying the stock. 



"Luca Brasi sleeps with the fishes."  - Mongolian "God Father" Proverb :)