Re: Patience .... Thats the word of the day!
in response to
by
posted on
Jan 26, 2010 08:30PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Ahhhh, how soon we forget or maybe some on this board have not done enough DD to know what they refer to.
Yes they were hot to trot to get a 43-101 out as the drilling would hopefully give them a much higher resource count. Sounds good to me. Lets move the share price higher, thats always going to make the shareholder happy, especially the ones who want to sell their shares for the most that they can get right now.
RIGHT NOW!
But along comes this new find, we were already talking about it at the AGM, so were you Jeff, and you were typing away like mad during the AGM to all of our esteemed members who could not make it in person.
None of us really knew what the Hinge was going to mean. Some might have suspected and a few of us had high hopes. No one really expected that they were going to start uncovering Montezuma's lost hoard (that sounds good, hey Dale can we call the next big discovery the Montezuma, or is that just too much of a curse??)
Moving along,
Do we try and include the drilling at the hinge into a 43-101? That would certainly get us up over 2mm ozs and maybe if we are lucky there could be 3mm. The infil drilling would take time, but it could be doable.
Problem was that the hinge drill cores are showing really high grade but we can't count those high grades, they will have to be cut off and capped at, what was it? 1oz? But is that really going to do the company and the shareholders any service? Not from where I am typing, no siree.
So what should they do?
Tunnel down to the ore and do a bulk sample is what they should do, and so they did, all the while people were still whining about when are we going to get a 43-101?
Now fast forward to the AGM in 2009, the company has now gotten down to the ore, no mean feat by all accounts, and they have even tunneled through the L13 as a bonus.
The drills are still tunring and the Geos are pretty sure that they have started to understand the geological picture of the land. The now find the Cohiba, they announce the L13, and now we have the '007'.
I don't know about you guys but when the share price started to tank at the end of '08, or ya forgot about that one, man it sucks having to raise capital in a market like that because now we are starting to give away the farm to his Nedness and many of us shareholders don't like that at all.
Nasty business recessions are aren't they.
But they have persevered and we are here today. They have had to play a game to keep from losing the company to some bigger fish for nothing more than a dime and little monkey dancing while the song is being played out in the markets, and here we are still wanting to know why management has utterly failed in making us all rich as of yesterday.
On a personal note, I bought many a share when the price was under a buck, I was here and I got to take advantage of that as I hope many of you did if you missed the boat the first time like I did.
I even spent some of the money that I was holding onto to redo my roof, which had a leak in it that I repaired so that it could last for another year or 2 (the wife was not happy, but I am a man and I can take living in the dog house for months at a time).
Now as the business of exploring and becoming a producer (jury is still out on that one, even in my books) I have watched the share price climb and make me money that would have taken years for me to save, I do not make incredible money like some here, but I am happy.
I am happy to say that i sold all of those shares that i bought with my roof money and paid for that roof, got the attic insulated, bought a new car, and still have more shares than I had before the market meltdown.
Hurray some of you may say, good for you others may say, and some are just sour and could care less, not going to bother me in the least.
The reason that it does not bother me is because the reality for me is that this company has made me some very good money, money that I have held in my hands, tangible proof that taking profits is not a bad thing.
Some of you on this board might want to give the management a rough time, and yes I will agree with you, there should not be so many promises given out that may mislead investors into thinking that they are going to get on it right away, but they fact of the matter is they are not playing on a level field to start with and are really committed to makking this into one of the best gold companies in Canada.
I for one believe that they will get it done, but I do not have a timeline on it, patience is patience is patience.
OK i am finished ranting now, goodbye
andy k