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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

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Message: Investor relations

I just had a conversation with investor relations. It is a new fellow and I forgot how to spell his name so I will not try. It is refreshing to see that we now have a "promoter" in TO rather than Vancouver or WPG. Tim F is apparently doing community relations. I could not get a number for August, however what he did say was we are running at 2500tpd in the mill and mining close to 1700 tpd. We have enough stockpile in front of the mill to meet guidance and the company is working hard to complete developement of 16 level so mining of the hinge and 007 can commence from the RLM infrastructure. He assured me no flowthrus or financing will be done at valuations that management considers a steep discount to what they believe to be market value. He mentioned a valuation of $220 million and a market cap of $240 million. Very low for a gold producer with over 4 million ounces in the ground. Of course they are not listed as reserves yet , however they are there and plans are being made to mine them. We talked a bit about why the SP is not reflecting the value that some of us can see and he figures it boils down to a lack of promotion and poor communication. If you look at some early stage juniors with no infrastucture and many years before any mine could be developed you will see many getting a higher value for their ounces in the ground than us. Go figure.

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