$12/share or a $3.6 billion market capital suggests 225,000 ozs/year production at $800/oz net. That level of production appears to be a minimum of 3 years off.

Last I checked OSk had a market cap close to $4 billion on no production and as far back as '08 had it up to almost $2.5 billion pre crash on no production more than 2x where SGR is today.

No production for 3 years while the Malartic project isn't even slated to be producing until the second q of 2011 yet the cap is at $4 billion not to mention the $730 million they'll have to eventually spend to get at 9 million ounces and the 375 million they paid for BBR.

The only difference is the subsidy and backing from the province of Quebec and the bankers driving the sp.

"The Company benefits from incentives of the Québec Government which provides cash reimbursements for outlays on eligible expenditures up to 42.8% of the outlay. During 2010, the Company recorded a benefit of $2.3 million."