All comments are from the pov of Gregg Gibson.

It started with a question-Answer which turned into a long commentary by Gregg. He had some positive comments about Rice lake and about the fact that the mill is finally generating enough money to pay its bills. I got the impression that he is a real money man. Yet we need Kerr to raise the worth of SGR because San is dead broke and also owes a lot of money. It is a good mine -the best he's ever seen for size- but the merger is the last chance. And that was a done deal before we got to the meeting.

If Gold sinks to $1100 an ounce, SGR is in trouble. But so are many others. There is no equity money available and there are no prospects for selling the over-sized equipment anywhere. Below $1100 looking at SGR in Care and Maintenance is still expensive, $675k a month. If it floods SGR is done. It is very close, but he is still hopeful. Having gold sink as it has has created a new, tough scene. He said there is no plan for a stock split for a year.

For me the day was tough but positive. There is no one better to be in charge for us. He is like a pit bull, but knowlegeable and on our side. This I say hopefully.