Re: Bill Ferrera...The Long and the Short of it and waiting.
in response to
by
posted on
Dec 10, 2008 08:02AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
I agree.
-waiting for self imposed production numbers to be met. Yes, we have had set backs. But no more than other companies in the business. I'm sure they have all had their share of equipment problems, lightning strikes, development issues, etc.
-waiting for 43-101. Actually not sure which one as we were to see a few of them if I recall. One just for the hinge and one for the overall project. Even Dundee thought we would see one in a few weeks from their report date:
October 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."
-waiting for cash flow positive status.
-waiting for listing on the AMEX or no wait its the TSX now. Initially it was the AMEX because it was not as costly, then we were going to stay on the venture because, hey lots of companies are on the venture and do fine. Now it is the TSX but gosh darnit we are one independent director short. Last year there was an issue of 3 million dollars that it cost to remain listed on the TSX (straight from Dale's mouth), good thing we are flush with cash.
-speaking of cash, waiting for the debenture to close.
-waiting for the mill to be producing at 2/3's capacity(800 t/d)
Apart from terrific drill results that have yet to be put into any context(43-101) can anyone add some positive items apart from the unrelenting propaganda of having a mine in canada that is fully permitted with an infrastructure in place. Those items would seem much more relevant if we produced enough gold to be profitable.
Cheers