Other than market caps and shares outstanding, the comparisons between SGR and LSG are now almost identical.

It's just that San Gold is undervalued considerably for no apparent reason. That's about a 40% discount to LSG for almost the same thing. If that isn't a vote of no confidence for George Pirie I don't know what is.

Comparison LSG ---- SGR

2012 production: 85,792 ----- 86,502

Grade: 3.9 ----- 5.07

4q grade: 4.2 ----- 4.22

Tonnage: 719,000 ----- 629,000

TPD: 2500 -----2500

~Costs:800 ----- 800

2013 guidance:120 ----- 95

Capex 2013:80 mil ----- 45 mil

Debt: (35 mil) ----- 0

Cash:61 mil -----30 mil

Shares out: 415 ----- 335

Market cap: 320 mil ----- 194 mil

2008 low: 60 cents -----57 cents