San Gold Corporation

4.15g/tonne really?

You'd think they had enough of an understanding of the geology by now that they could mine narrow areas, dilute less and have 5.5 g/tonne .

(ok so I'm not a miner and have no clue if that's possible).

I just don't understand how they can say they have a cash cost of 800-900$ /oz, for gold to be at 1400 and for them to be lossing money.

My math says 17 000 oz at 900$ = 15M

selling at 17 000 oz at 1400= 24 M

profit = 9 M (24-15) per quarter.

Are they in the shreading money business?

So basically If they shut down all other activities other then production for 2 years

(shut down drilling, development, etc). in theory they could make 70-90 M profit in two year.... and they have a market cap of 60 Million? how does this make any sense?

Can someone please point out my mistakes in my logic. (obviously I must be missisng something).