Re: Sage News!! -- Kinghorn
in response to
by
posted on
Apr 16, 2009 01:16PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
I posted a response to a similar post on the SGX board.
the bottom line is they have to start somewhere. KXL didn't plan a 60,000m drill plan without some decent results first. Over 1 1/2 years ago they released results of their initial SHALLOW drill program with great results (albeit in a much better market) which then in turn led them to plan 60,000m of additional drilling.
So SGX is basically 2 years behind KXL, market conditions are less than "golden" but that may change over the next 6-12 months. I also think this is why things are being dragged out ... they need to make that cash last.
30 holes in the SGX discovery zone will give them a good picture of what's there.
In vein 9 where the is gold in the volcanics as well as the vein structure is a bonus. that, to me would indicate that they are much closer to the source of the gold mineralization, but we're a long way from confirming that.
Will great results spur the SGX stock price like early results from KXL did? Not likely, but it will certainly help improve the image of the golden Mile vein system for both companies. I agree with you that if one is here to make a quick buck, they will likely be disappointed but someone somewhere will be turning the golden extension into swiss cheese at somepoint in the next few years and I plan to be a part of it.