MD&A and Financial Statements for 9 month period ending June 30, 2008 (i.e. Oct07-Jun08) filed yesterday.

Some 'cash' observations:

As of June 30, 2008 SGX had $3.344 million in cash, short-term investments and other assets. Sage has spent $7.970 million on exploration during the past 9 months ($6.856 CAN and $1.113 US). Canadian exploration program primarily funded by $5.480 million flow-through financing completed Q1 fiscal 2008. During this period Sage raised 760k in an additional PP and $3.229 million through exercised warrants.

FYI... current 'near-in-the-money' warrant situation looks like this:

Therefore, SGX could easily realize an additional $2.264 million if the share price moves back into the mid-20's. Can't help but think this is the desired plan and a very serious possibility. This would basically give SGX a total cash position of $5.598 million (i.e. $3.334 + $2.264) past June 30, 2008 to finance further SE Jacobus exploration, etc. FYI... to put in context SGX spent $4.638 million at Onaman during the first 9 months of fiscal 2008 and that includes ~500k in property acquisition costs. Other outstanding warrants include 5.48M @ $0.75 and 8M @ $1.25... I am sure SGX would love to have these exercised as well but one step at a time :D.

IMO we can clearly see the use, importance and effectiveness of these outstanding warrants. Warrants are not always a bad feature of a PP... sure they do lead to some further dilution but they can also prevent a company from having to go to the market to raise additional $... a good thing in the current unfavorable market conditions IMO.

Purely FYI. Comments?

red911