43-101 - only 1 Million Oz
in response to
by
posted on
Oct 05, 2008 11:22AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
For those of you who missed the memos, the 43-101 will not be over 3 million oz. The reason is that they are doing 2 43-101's.
The first is to be released end of october and it is only including the hinge zone. We should expect a maximum of 1 million oz, and that might be optimistic. I might only be 1/2 a million.
The second 43-101 due the end of the year will include the first one i previously talked about, and the old 43-101 and whatever else gold they find everywhere since the 2006 43-101.
So the reason they are doing this is because it takes a long time to do a 43-101 and to do it only for one section like the hinge, they can get it out much faster. Once this is done they will be compliant for the TSX and they can submit there paperwork. Once they are on the TSX they can then do a total resource report which im anticipating around 3 million oz and that should give them a big boost to have that news release out while listed on the tsx.
I believe this is purly a strategic move for them and i believe it will be well played out. This all assumes they will be profitable Q4 or Q1 2009 and that they can maintain profitability. If they can prove this to the market, there is no reason they wont be up to 5$ in a year or 2.
Jeff