1-Does Sage Gold have enough cash on hand for drilling and exploration for calendar year 2009 without another private placement or any dilution to shares outstanding.. If so, how much cash? If not, how are they planning to raise funds and how much is needed?
A. Further financing will be required for 2009 calendar year and we are reviewing options now as mentioned before. This also includes the amount needed. We are now approaching 300 metres of strike length on the Jacobus East “Golden Extension” and have found multiple veins in the area also so there’s lots of drilling upcoming. We do have warrants and options that if exercised can bring in funds to the treasury. This is dependent on the share price. We will announce financing details when the time comes.
2-Am I mistaken or did I read that a NI 43-101 does not necessarily need to contain an estimate of mineralization report? If that is true, will SGX's upcoming 43-101 contain such estimate? Thanks, marlinspike.
A. Sage does plan on issuing a mineral resource but what you read is correct. A 43-101 can be a Technical Report stating historical resources, potential of mineralization, infrastructure, etc. Basically a third party independent report required for a sale of a property or project, financing and/or other material events.
3-Has SGX considered listing on the main board, TSX?
A. Not at this time since there’s a large cost , approximately $130-150K and you market cap has to be substantially higher than SAGE’s is right now. There are benefits though and we would strongly consider it when we do become eligible.
