RE: RE: wow! I bought some today at 0.58. The company took what was an overvaluation in its share price and raised a lot of equity at the time. Luckily I had nothing to do with the massive drop.
The news doesn't seem apocalyptic to me. Production is expected to be basically the same, production costs per ounce very similar. Being an unhedged company, I see it as a huge play on the price of gold which I wouldn't bet on going down.
Check out their resource base here: https://www.sangold.ca/s/Ops.asp?ReportID=402507&_Type=Operations-Items&_Title=Reserves-Resources
Note the large quantity of inferred resources. A lot to be gained from upgrading those into higher confidence categories - thus explaining the large drilling program which everyone here seems to hate.
Think of it as having the stability of a producer with the upside of a pure exploration company. The market acted today like it was Great Basin Gold or something.
It will climb again the next time some clown mentions it on BNN. Expect a choppy ride for the next couple months with a good long term future (unless you bought at $5 in which case you are screwed).