The SGR website has updated Investment Analysis by Fundamental Research Corp posted (dated October 17, 2007).  The link to it is:

http://sangoldcorp.com/assets/files/SGR%20Update%20October%2017,%202007.pdf

or just go to the SGR website and look under Investors and then under Articles and Analysts Reports.  There are 14 pages of interesting details there to check out.  A few things I noted:

- their Fair Market Value - now $1.95 per share, up from $1.60

- a BUY rating 

- San Gold has focused their development and exploration work
on the high-grade (1-2 oz/ton gold) veins at depth in the Rice
Lake Mine. We have calculated a conservative resource
estimate of approximately 300,000 ounces in these veins.

- They are currently operating at 400-500 tpd, including material
from the San Gold #1 Mine. The company plans to bring their
mill to a full capacity of 1,250 tonnes/day by the end of 2008.

See the report for further details.