Re: From SH
in response to
by
posted on
Jul 15, 2010 06:08PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Wow. He packed a lot of misinformation and withheld a ton of relevant information in his 5 paragraph comparison, didn't he? He's a real pro.
For starters, it's pretty clear SGR has more than 3MM oz on their properties. 3MM is simply the latest 43-101 compliant resource, which doesn't take into account a lot of the drilling, especially in the 'new' target zones. But I'm sure he knew that.
Aurelian had a 15 million ounce resource and sold for what this is trading for currrently.
Yep. Didn't mention that the Ecuadorian goverment announced it's intention to change regulations surrounding mining just after ARU announced their resource. Or that the stock traded above $15/sh, or that after a stock split the stock was trading around the $10 mark prior to the government announcement. An announcement that in retrospect, by the way, reeks of a backroom deal between the government ministers and potential suitors over who would get to pick over the carcass of ARU. Didn't mention either, that the deal was so unfavourable to existing ARU shareholders, it caused a shareholder revolt
Didn't bother noting, again, that ARU was a pure discovery. They proved up a resource, period. No serious roads, power, mining facilities, etc., etc., in a jurisdiction that proved itself to be very risky to business in, while SGR is a fully permitted, operating mine, with enough necessary infrastructure in place (roads, power, a town, shafts, a mill, shafts, hoists, etc., etc.) to turn its resource into $$s in a fraction of the time it will take Kinross to even begin to mine ARU's gold.
Either he forgot these little snippets of information, in which case, one has to wonder whether he can remember how to tie his shoes, or he deliberately ommitted them, in which case, you can be your own judge as to his possible motives.