San Gold Corporation

A target head grade of 5 is simply not enough.

Was it all that long ago that the head grade was 6 or even 8?

If they were to get back to that, the POG would not be a problem, and the cash costs would be a lot lower.

It all comes down to economy of scale. If you are producing more gold per ton, you will become profitable.

This is the one thing, in my opinion that has killed this company, maybe even more so than having GP run the show.

The only silver lining to the head grade being so low is that if it was higher and the company was breaking even, we would still have GP as CEO, and who knows where that would have gone.

Think happy thoughts.

Think happy thoughts.