"one month behind revised schedule"
E, you sure like listening to yourself type. Why not call a spade a spade. NR from April 13/07:
San Gold is rapidly transitioning from developer into steady-state gold producer and is on track to producing 50,000 ounces of gold this year (please see press release dated April 4, 2007). San Gold’s two operating mines are rapidly increasing their ratio of higher grade production ore from initial lower grade development material and are now contributing 800 tons per day. San Gold’s mill has reached steady state and optimum operating levels with no further lock up of gold anticipated, a process that has taken approximately six months longer than initially anticipated.
In the same spirit I am only 20 years off my revised schedule of “rapidly” making the NHL. See, isn't that easy. Just revise the schedule and pretty soon you will be ahead of schedule. Nice and neat.
Hugh recently bought 150,000 shares of the PP. Everyone thought that this is a show of confidence in SGR???
Lets see, gets a tax break from the FT and the FT itself will be used for exploration(drilling) which Hugh has a monopoly on. Wonder how the tender process will now work since there are so many drills available? Will our drilling costs decline? Also, any other exploration(read additional workers) benefit Hugh since he owns most of Bisset.
So, this by no means was a confidence issue but a pocket liner for Hugh. Good for him.
If by some miracle our SP appreciates by the next AGM back up to $1.60 all management will do is change the dates on the charts from the previous AGM and again boast on the SP appreciation from 80 cents to $1.60. Nice to see that they support long time shareholders.
My question to the board. Is SGR in the business of mining gold or mining it's shareholders. I hope that it is the former since I bought into this play way too aggressively. Interesting to note that the reverse gear on everyone's truck seems to be rather underutilized at these rock bottom prices or is it a reflection on management? Because, Hey the fundamentals have only gotten better.
This from the Dundee report Oct 27/08:
The company expects to receive an initial resource estimate for the newly discovered Hinge zones, located 1.5km east of the Rice Lake Mine, within the next few weeks. We consider a resource in the order of 500,000 oz to 600,000 oz for the upper 300m of the Hinge could be reasonably expected at this time.
Lets see how tolerant Dundee is to revisions of the schedule. A few weeks from Oct 27/08 seems to be about now. The only timeline that SGR has made since I have been following it since 2005 is that they show up for the AGM.
Another comment, this pertaining to the early release of Q3 results. Was it done in an attempt to mitigate some tax loss selling which is definitely on the way in December.
Maybe FirstClass was right and they are holding back production in order to capitilize on gold at $1500/oz.
Just some venting from a frustrated SH.
Long SGR, as if most of us had a choice at this point.
Cheers
