Re: San Gold loses $4.63-million in Q3 2010
in response to
by
posted on
Nov 15, 2010 12:19PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Surely there are other deposits they can concentrate on that are currently profitable.
I am sure there are a lot of things to concider before shutting down the RLM. You are in a growth phase and are now just beginning to maintain a steady workforce with experience. What would you do with those miners at this time. Lay them off and lose them, or perhaps keep them working until the 007 is ready to go. Another thing to consider is a good chunk of the losses are fixed overheads that would be added to the hinge production, thus showing a loss over there. What then? Shut down the Hinge Mine as well?
Most of the losses are due to low grade developement ore and if you look at a pdf of the mine just before the start of the hinge bulk sample, you will see a lot of developement that is completed, underway or planned in the last 18 months. Also take note of all of the new discoveries.
April 09 just after the Hinge ramp was developed. Page 4
http://www.sangold.ca/i/pdf/2009April14-NR.pdf
This is today as of last NR. Look at pages 5 and 6 and you will notice substantial moves ahead on both exploration and developement. Also a much more professional looking Website. All of what you see has been accomplished in 18 month. Maybe it is just me, however I find it simply amazing that they have blasted and removed all of that hard rock and drilled and discovered all of these new zones..
http://www.sangold.ca/i/pdf/2010-11-09-pr-L10.pdf
This is a mine, not a junior spec explorer.