He was just on:

owned for many years

stock plunged after taking on debt, got incredibly cheap, we increased our position because we think much higher gold prices are coming along which will equate to significant earnings and cash flow for San Gold. At this point in time they are hemorrhaging money. (can't believe he said that as I believe that's strong overstatement, overspending yes, partly as they spend out the flow through money raised from 2012.)

They have a beautiful resource , it's very large, potentially could get a lot bigger, ultimately to have to execute and manage (grade) dilution as they put ore through the mill.