When I contacted management at SGR (per my last e-mail with info), he indicated that SGR is not for sale and the goal is to become a solid mid-tier producer. Of course, that can all change when big money is flashed (my words, not his).
He also indicated that the majors are probably willing to wait until more is 'proven' before taking the 'risk' of spending billions. He indicated that they are willing to pay a premium for the reduced risk.
Personally, this company has 'proven' itself already with the dramativ increase in oz's over the last few years. I pose a challenge to anyone to show me a junior gold mining company that has been proving up ounces as quickly and cheaply as San Gold.
Also per my previous e-mail, he indicated that SGR are producing approx. 70,000 oz's per year annualized. Being that we are half way through the year and production is ramping up, perhaps we will see 70,000 to 80,000 oz's of production this calender year. That is pure speculation on my part.
Seems to me it's all good, other than the fact that the initial offer of 5 billion cannot come soon enough.......
FWIW
MB
