TSX:SGR.UN - Post by User
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OPTSALESon Nov 05, 2010 11:54am
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Post# 17664206
Target Price
Target PriceSAN GOLD CORPORATION - (SGR - CAD$3.24)
Target Price: CAD$5.20 Recommendation: BUY
Increase in Q3 Production and Re-iteration of Upcoming Exploration
-San Gold released production numbers for Q3/10 highlighting total production of 12,568 ounces of gold, a 37% increase from Q2/10
-Rice Lake exploration continues to concentrate on finding extensions to the Hinge, L10, and 007 zones as it is possible that 007 and Emperor may be connected around the 1000m level which would greatly increase the potential ounce count
-With assays pending on drilling 1,000m down dip below the lowest drill intercepts of the Hinge, L10, and 007 zones, as well as from a step-out 150m east of the known limits of the 007 zone, lots of exploration potential remains. We remain a BUY with a $5.20 target, re-iterating our investment thesis that SGR is an exploration play
By Barry Allan - 2010/11/05
Mackie Research Capital Corporation
1550, 335 - 8 Avenue SW
Calgary AB T2P 1C9
www.mackieresearch.com