Shake ,Rattle and Roll

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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

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arbee

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Shake ,Rattle and Roll

in response to

Re: Maybe you're quite rightly optimistic about SGR!

Agorafan

posted on May 05, 2011 04:53PM

For the time being SGR looks to have support at around 2.50. Off a good 17% from recent prices around 3.00. But holding up today better than most other gold miners I follow. So a sign of resilience there. Everything is being sold ..oil.sugar, lumber etc. Silver has been crushed..down some 25% over the last few days...Gold off maybe 6 or 7 % from the recent highs around 1570.It's still a good 200/oz. more than this time last year and fundamentals haven't really changed. The drop in oil prices if sustained is a plus for mining in lower fuel costs.

P.S. A green close today...very strong finish for SGR considering the drop in the POG. The only green on my screen except for HGD,the gold bear ETF. I think we'll see if the bottom is in pretty soon. Added a few yesterday at 2.53 a'la buy when the blood is running in the streets.The last few days have been a bit gut wrenching but hopefully our faith in the gold bull and SGR is not missplaced.