"Call me lazy, I'm just not into math or having to dig that deep"

I'm not buying it. You are not lazy unless it's intentional or convenient and you don't have to be that into math to read a financial statement or understand an MD&A which the NR you were referring to made reference to in the opening sentence.

"SAN GOLD REPORTS IMPROVED RESULTS

San Gold Corp. has released first-quarter 2011 financial statements. They reflect a large improvement in performance at the Rice Lake project in Bissett"

No matter how anyone spins it, the production woes are behind us and the margins are starting to reflect this and improve.

They are exceding 1200 tpd mining with an average of 1525 tpd in May alone. They have the ore and current mill throughput is averaging 1600tpd.

If they mill 110k tons this quarter on the low side at a 1st quarter calculated grade of 6.15gpt there's ~21.5k ounces right there. That's conservative.

If they mill 140k tons at 7.1 gpt, there's 32k ounces. A 12,000 ounce increase over q1.

Considering all costs are now fairly static, it won't take much to make up that $5 million loss.

An additional 10,000 ounces at $500 profit is all that it would take to make this the company's first profitable quarter ever and at a cash cost to produce of $862 an ounce and falling, gold at $1300 is all it would take.