A couple of points Ian talked about:

-burn rate was 3-4mil but with cuts to drilling, they are nearer 2 mil and hopefully heading to 1 mil.

- also, looking at a newer mining method (he said the name but I can't remember) may help lower costs.

- currently cutting costs in capitol , equip & overhead (?) with intent to lower overall mining costs

- important belief of Board is that SGR made claims but never lived up to them - got hammered by analysts - so they promise that they will live up to statements and objectives

- also re: stock option plan , though approved, it will not be abused and a commiittee will review to amend it for shareholder approval in future (the current one goes for 3 years but whether the new plan is ready before then was not clear!

How are amounts determined for indicated vs inferred?

A possible qustion for AGM - what is a cut-off of information (or number of drill results) before a 43-101 is recalculated and issued?

thanx for the work you do to keep us informed

aps

At the AGM this year, Dale talked about the options plan which was subject to a vote of approval.

He stated that San's percent (I don't remember the number) was not large within industry numbers. Also he said it was a necesssary to attract and/or retain employees - it was not about dilution.

The statement was supported by a comment from C Shearer (I believe) that this was all within accepted industry practices so this announcement should not be taken negatively.