I can't find another producer that is as out of favour given their cash flow from operations. They had a cash operating margin of 435 an ounce in the 3rd q and they are trading at similar levels to companies that are restructuring or about to turn out the lights.

Rubicon needs at least $180 million to even get to a cash flow situation and it is trading at 5x that of SGR and as positive as the situation at LSG is turning out, does it deserve to be trading at over a 4x market cap of SGR? No and no.

For whatever reason, someone had it in for San Gold and did serious damage not only to the share price but also to the optics. Can current management turn it all around? i wonder if Breakwater's peons had the same concerns?