Keep in mind this is from November 13 and before this, he was on the buy side for what seems like eons and the price went down.
Ticker Symbol: C:SGR
Taylor says sell San Gold
San Gold Corp (C:SGR)
Shares Issued 335,260,029
Last Close 11/20/2012 $0.90
Wednesday November 21 2012 - In the News
Jay Taylor, in the Nov. 13, 2012, edition of Gold, Energy & Tech Stocks, says sell San Gold Corp., recently 97 cents. Mr. Taylor said buy eight times from Oct. 16, 2006, to Nov. 21, 2011, at prices ranging from $1 to $3.39. Assuming an investment of $1,000 for each buy, selling the $8,000 position at 97 cents yields a loss of $3,165. Mr. Taylor says San Gold has been one of his favourite stocks for a long time. Unfortunately, the company's performance in recent quarters has disappointed him. The editor had thought San Gold's prospects would improve after George Pirie became its president and chief executive officer in December, 2008, but then the company incurred high costs of production deep underground at its Rice Lake gold project in Manitoba. Now San Gold is working toward mining the higher-grade, closer-to-surface reserves at the project. The gold bug says perhaps this mining strategy will finally propel San Gold upward; however, he says a rise in share price is unlikely until next year. In fact, Mr. Taylor expects not much upward movement for equities in general for the rest of 2012. He says sell San Gold for tax losses. The editor plans to review the company's situation again in 2013.
© 2012 Canjex Publishing Ltd.
