Andy said: So a little more patience is being called for by all of us.

Ain't that the truth! What options do we have? Selling at these levels is ludricous, especially when we KNOW that our shares are worth multiples of what they are trading at. (we are now at a third of what we were just a few months ago!).

There are many forces at work, some visible and some behind the scenes. Various posts have made us aware of some of them, and none of us can say we have it all figured out - it really is beyond figuring some days. But, we do know that current levels are not realistic and that they will eventually have to come around.

Some thoughts I have (personal opionions/reflections only):

1. The flight to the US dollar, whether irrational or not, is affecting gold. For all of its problems, the world still trades in US dollars primarily, so people want them and need them.

2. As bad as the US economy is (and likely to get worse), I think there will be efforts made to keep it looking as good as possible, especially as we approach the US election.

3. While the US economy and dollar are likely to erode further (and gold should rise in response to that), we should not expect the US to just roll over and play dead. The US is a very powerful and huge economy and the people of the US are also very resourceful. They will figure out a way to work through their problems and eventually they will get back on a better footing, IMO. Therefore, I don't count on gold rising to new heights on "the fall of the US" alone. There may be spikes in gold as the US encounters crises, but the US is not going to fail and disappear overnight. [And we shouldn't ever want that to happen - it would likely create a collapse of the world economy; look how the world was affected by this recent credit crisis; a collapse of the world economy would not be good for anyone.]

4. There will be tougher times ahead, and things will change. As they do, I expect gold will gain a more prominent place (and higher price). But, I don't want to base my future and investment gains on extreme predictions of disaster or extreme projections of gold price.

5. SGR will be profitable with gold at $800 or $900. As it gets production up to speed and resource count is confirmed at expected levels, the share price should be worth $3 or more on that basis alone, even with gold at current price levels. If gold does trend higher to $1000+, then so much the better for SGR.

6. SGR has cash on hand -- they are not at the mercy of the equity markets to operate.

7. With some time and patience, I expect much better days ahead.... but I am not expecting overnight miracles.

JMHO.

NL