TSX:SGR.UN - Post by User
Comment by
Avocadopiton Oct 26, 2008 5:56pm
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Post# 15548760
RE: RE: RE: Avocadopit, - cost per ton milled
RE: RE: RE: Avocadopit, - cost per ton milledI found Dale's email and phone number so I will call him tomorrow if the Harbour people cannot answer my question, and another question that cropped up from reading the news archives. To wit: Where is the supposed production the company was talking about as early as late 2006? 50,000 ounces in 2007, perhaps 100,000 in 2008. I did not see any news releases saying that instead of doing real production they would process development ore only for the last 1.5 years.
I want to believe this company has a solid future, but the past performance seems to imply otherwise. I quote from an April 13, 2007 news release:
"San Gold is rapidly transitioning from developer into steady-state gold producer and is on track to producing 50,000 ounces of gold this year"
Actual production was around 5000 ounces. Yes, they explained this in the 2007 year-end report, but why were they so over-optimistic to begin with? I just got badly burned with another gold stock where management was unable to see the future any better. So this time I want to be as certain as anyone can be of the facts before plunging in.
Thank you,
Andy