It seems to me that Sage picked up a couple of sweet deals with its Clavos property in Timmons and, even more so, its JV with Gryphon on the Borealis project in Nevada. Their only limitation now seems to be the cash necessary - first to seal the deal with Gryphon, and second to drill.

That cash limitation, and the uncertainty around Sage's ability to raise the necessary cash, seems to be the cause of it's share price decline. Of course, the value of those two new properties could also be the cause of their share price having stabilized where it is now.

I have wondered if Kodiak might be able to seal similar deals. We do have the cash, after all, and there must be all sorts of potentially sweet projects out there just screaming for good management and liquidity. Of course, many have wondered out loud if, in fact, we DO have good management. But that's a whole different discussion.