That LSG financing is an exact example of how to succsessfully use marketing and IR skills to access more capital to grow aggresively. Offering stock shares at this time seems the best choice, since it has no finacial obligation, as long as the dilution and the voting rights control is under control.

The planned $10M on drilling in 2010 is not enough imo. In the last 12 mths, sgr found out 4 new HG zones, L13, cohiba, 007 and rice lake deep west. sgr spent $8M to bring Hinge zone from discovery to production in about 2.5 yrs. I'd guess all those 4 new zones will need about the same amount of money to go to production, including detailed drilling and shaft construction/extention, which bring the total somewhere close to $32M. With $10M in budget per year, sgr can only bring one or at most two new zones to production in 2-3 yrs . This sounds like a snail pace to me, assuming no fund to find new zones. So I am hoping sgr can do either JV, like sharing 30% of interest from the 007 project, or share offering, but again, not in TSX giving too much discount in share offering. JMT.