Sage doesn't seem to have a problem raising cash although Clavos is the only real play they have left. So I went through the resource report to dig out some details. SGX refers to the resource report but doesn't mention any numbers, so you know they won't be great. Why else would SAS option out the property unless it wasn't big enough compared to other properties to develop in their portfolio? The 2006 resource report can be found on the sedar website under SAS in October , 2006. The numbers in that report are : 37,100 oz M&I 110,300 oz Inferred . Some $46 million was spent by SAS for underground development which, in retrospect , was a big mistake by SAS but SGX will be the beneficiary if the project succeeds. Some key aspects of the resource estimate are the cut-off grade of 4 g/t and a $ 500/oz value for gold. Most resource estimates for northern Ontario projects now use a cut-off grade of 1 g/t and at least $ 850/oz for the gold value used in the economic cut-offs. Then there's the additional 12,000 meters of drilling that was not included in the resource estimate. Some of that drilling will upgrade existing resource and some will add resource. When all these elements come together plus the new drilling SGX will carry out on Blocks A & B, then the revised resource estimate should show an improvement. A doubling of the resource total is certainly possible although that's still not a big number. A small scale operation is possible and a number of small operations are opening up in northern Ontario in the old gold camps. Access to the Brigus Gold mill will be essential and I don't know if they can guarantee it. I checked the Brigus Gold site and they are expanding their production so capacity may be an issue. A total of $ 500,000 must be spent by February to maintain the option so Sage has the cash. The proposed drilling program should have started by now but I didn't see any announcements.Maybe my shares aren't destined to line the bottom of a bird cage.