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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Message: Goldcorps Contest how San Gold has benifited.
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San Gold’s new results look Similar to Goldcorp's. Dale Ginn worked for Goldcorp, he understands how they found their high grade/ applied it to San Gold's property, High grade and specifically the Hinge Zone are the results. Now Consider 1) During this time Goldcorp’s stock price went from a market Cap of 50 million to 7 billion 2) When Goldcorp's stock made its run gold prices were much lower than now (900+) 3) Less of the gold in the Rice lake Belt has been mined (this is arguable but on a relative basis a lot more effort has gone into the Red Lake Gold camp than into Rice Lake) 4) There were more alternative investment alternatives then with an expected positive return than now(banks and housing/construction and insurance had positive outlooks).( earnings for most sectors are now declining while profitability is increasing in the gold sector). Here it the Article from USA today it is about Goldcorp but it shows that the addition of 8 million ounces at higher grade was a key driver in the increase in market cap. The other key driver was increased production. San Gold is adding ounces of high grade and ramping up production.
1/2/2007
By Russ Juskalian, Special for USA TODAY
Remember when your teacher taught you that lesson about the benefits of sharing?
As it turns out, it's more than simply a tool to facilitate Lilliputian peace accords. It might even make you rich.
That is the message behind Wikinomics: How Mass Collaboration Changes Everything by Don Tapscott and Anthony Williams.
This is not another book about profitless Internet start-ups. To make that clear, the authors don't start with blogging, Wikipedia, YouTube or any other stars of the Web. No, they want you to take a look at a company involved in one of the oldest industries: gold mining.
When Rob McEwan became CEO of Goldcorp, he and company geologists knew that their property contained untapped resources "thirty times the amount Goldcorp was currently mining!"
But with 55,000 acres, nobody at Goldcorp could figure out where to look for the buried treasure. To avert a wild goose chase, McEwan shared on the Web Goldcorp's geological data going back to 1948 and offered $575,000 in prizes to those who could come up with the best way to find and extract the gold.
Participants in the contest found 55 drilling targets Goldcorp had not identified. Eighty percent hit pay dirt. "In fact, since the challenge was initiated, an astounding eight million ounces of gold have been found" and in four years Goldcorp's cost of production dropped 600%.
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