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Message: Does no one else feel misled

Does no one else feel misled

posted on Oct 28, 2008 12:05PM

by management in the past? Am I the only one?

"With a shortage of skilled miners and disappointing results from the SG #1 Mine, San Gold has not met its production goals over the past year. With the Hinge Discovery coming on line, the next few months could be an important juncture for San Gold as a producer."

Were we ever told about problems with SG1? All I recall at the AGM was that miners were being diverted to develop higher grade areas not that we had a problem with SG1.Where would we be today if the Hinge Zone was not found??

"San Gold has been an aggressive explorer, identifying several new zones of gold mineralization over the past year at an average discovery cost of about $20 per ounce of gold."

If I recall the average discovery cost was 8-10$ stated by Dale at the AGM and on numerous other occasions. Basically the amount of new gold discovered has been effectively halved by the doubling of our cost.

Now don't get me wrong, I am very happy that they discovered the Hinge zone. Also, it is nice to see an endorsement from Dundee, seems to have brought some transparency to the project.

Hopefully the POG cooperates and we move ahead with more discoveries and our production stays on track.

Just something I had to get off my chest.



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Oct 28, 2008 01:13PM
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Oct 28, 2008 01:48PM
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