Many of us have questioned why SAN shares improve modestly when the price of gold goes up but shares then decline much more on gold pull backs. It confuses me too. But I think that once you've decided that you're in for the long haul, it doesn't matter that much. What matters is that one, they have the assets and two, the price of gold continues upward. What I have gathered from this forum is that those who have followed the SAN story much more than I have concluded that there is a significant resource that only needs to be managed better. Somehow I think that better management will happen and this resource will develop as we all hope it will. As for the price of gold, I leave you with Jim Sinclair's recent commentary:

The weakness that the shorts on the Comex have taken advantage of is the many comments, almost every day, by highly placed people around the world stating that the Fed is making a huge error by utilizing QE.

The dollar today has not rallied enough to account for the gold price decline. The 30 Year Treasury Bills indicate that economic news is not a factor.

What you need to focus on is the fact that the Federal Reserve has no other option but to go with QE to infinity. QE never ended, it only became camouflaged through the methods it was utilized such as guaranteeing everything in sight.

What the market anticipates is more on the down low commentary by the Fed concerning QE. Remember that the Fed sees things within the US financial system that even other governments cannot such as the real risk of the rollover of securitized mortgage debt OTC derivative instruments.

You are witnessing the beginning of a period in the gold price that will be marked by totally outrageous volatility. I have told you many times I have no doubt whatsoever about gold trading at $1650.

Historically I have done well with price objectives on gold. I will do well this time around. If I had any concern it would be that I am much too conservative in my objectives.

Bert Seligman had a great lesson to teach when he said "The weak succumb, the strong survive."

From me personally to you, stand strong!