Lake Share Gold Corp LSG

Gold has to settle first

[BradsMyName]

Gold definitely has to find a bottom first.   Hopefully we are there already.  Rick Rule who is part owner of Sprott has made the comment that gold could very well go to $1,000 before the bottom is found.

When Lake Shore Gold announced that its cost per ounce is down to $800 / $850 per ounce that is not the bottom line.   What we really want to know is the All In Sustaing Cash Cost (AISC ) per ounce.  You want to at least add $400 to that cost which brings you to approx $1,200 / $1,250 per ounce.   Mines like Gold Corp and American Barrick, their All In Sustaining Cash Cost is approx $1,100 per ounce.

Something i thought you should all know.  I'm still very pleased with  the 2nd Quarter update by Lake Shore Gold.  I'm buying more tomorrow.

[goldhappy]

brad...did you pay particular attention to the sale price Tony fetches for our gold....over $1500 when gold has been well below that price.       The giant SAG Mill is being fired up as we write. This will increase processing volumes. Volume is good...production growth. The SAG Mill will also help bring down some costs. Capital spending is geraing down with this mill

[BradsMyName]

Moving forward into the third quarter Tony will not be getting $1,500 an ounce.   The average per ounce will fall dramatically in the third and probably the fourth quarter.  Hopefuly we have bottomed with the gold price and we can start to build a firm base to catipult us to the next level and beyond.  As i said earlier, i am very pleased with the way things are going at Lake