Re: Safety first, production some day
in response to
by
posted on
May 15, 2010 04:04PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
From my expierience, D, mine workers as a group are very active investors. Lunch-room talk at a gold mine is invariably about gold, gold equities and other investment opps! (With most "playing the markets!")
Safety, while on the backburner, is no doubt on everybody's mind and often part of the discussion. With miners in world wide demand if they decide to move to another job location, safety no doubt becomes a critical factor and SAN needs miners.
My last shift in a mine was predicated by the death of two expierienced raise miners whom my partner Ziggy and I assisted with extrication!
Ziggy, a German immigrant, who had been a timberman for 10 years, shortly therafter, ended his mining career a multi-millionaire as a result of his investment in Grand Duke. Coincidently, a rock slide destroyed the operation a few mos after he sold his entire position at $15/sh. After the slide Grand Duke languished at $0.10 for years. (The only reason I relate this story is to substantiate the employees (miners) are investors some becoming very wealthy mining shares while blasting rock!)
My decision to "invest" in mine equities in my early twenties resulted from the "hot tips" garnered in an undergroud lunchroom! (At which time I wasn't aware that a "penny" stock's chances of ever rising to more than a "pigment of someone's imagination" was in the order of 3000 to one!
Needless to say, my first venture, Juma Mining, the result of a "hot tip" out of said lunchroom, left my "investment" account bare.
There's a time to hold 'em and a time to fold 'em!
Protecting your "net worth" in the market is as important to investors as "scaling loose" is to miners and everyone working undergrouind!
When the time comes, I'll apply "Ziggy's Rule" to SAN, at $15.00 I'm outta here! (IMHO, a "reasonably" safe bet!)
RUF