in my opinion Sage Gold's plan is: finding something of value is not as important as strategically acquiring more land. The reason i come to this conclusion is that both require capital. Capital is something they do not have alot of. So they choose to spend $ (or further commitments of capital that the leases require) on more land. Sounds like they are in the land acquisition business-so i base my conclusion on Sage acquiring land for some other entity for an area play??

If a large producer started to acquire land on their own, that would push up all prices for that area. So the best way for a large producer to accomplish this is to go slow, make strategic investments, acquire as much stock as they can at lower prices thru themselves and other entities that they influence(which means letting the price come to you vs aggressive buying), all of this without showing their hand. Price of gold has to accomodate also.

Have no idea about timing. Things that could speed up timing:1. price of gold going higher 2. possible merger/JV of Sage & Kodiak 3. other producers making a bid on properties in area 4. Sage finding something of value

These are just my thoughts--makes sense to me.