I hear you MT.

It sounded like they met guidance for total ounces, however I was not that interested in Q4 as my focus was on what the plan is to mine at a profit. It all sounded good with the narrower drifts. In the past they were also drifting out considerable distances to retrieve small veins of say under 5000 ounces. Often the cost of getting there was more than the revenue. They are now leaving these in the ground. Maybe a much higher gold price will make them economic. They convinced me that the current POG combined with the lower C$ should enable them to operate at a profit. TTG had a question about the mill. There is no problem milling 2500 tons per day, however the mines cannot deliver that much ore economically in the current configuration with these gold prices. Ian said it takes a truck of 40 tons about an hour to get to the the surface from the stopes. This has added another inefficiency as they now are dropping ore from 16 down a chute to 26 so it can be loaded on the A shaft. The 16 pocket is currently on hold until some of the other more important changes take root. As you can imagine all of these inefficiencies add up to higher costs. Eventually we should see the 16 level pocket completed and the trucks no longer hauling up the ramps loaded. We should also see 26 level mining larger volumes as they remove bottlenecks and get more of the bigger vein systms on line. Let us hope this new discovery near the shaft pans out to be a big one and let us hope POG goes up. Those two things alone will be a game changer. IMHO as gold rocketed to $1900 everyone including the investment community got a little ahead of ourselves and we have been paying for it ever since. To coin a phrase from Vo;cker "irrational exuberence." Also IMHO SGR's troubles are far from over and it sounds like the developement that is required on 16 will be slowed somewhat as cash conservation is a must, however I for one think these share prices are a joke and it would not take much to see some improvement. They said the update will be out very soon so I am hoping it will have a lot of detail in it.