On October 11th this year, San Gold Corp reported a record production for the company in Q3 of 27,084 oz. at it's Rice Lake gold Complex near the town of Bissett, Manitoba. (photo)
This company continues to grow its production and its resource base, in the largest gold field discovery in Manitoba history.
Q3 Production Highlights
- Record gold production of 27,084 ounces.
- Mill production of 191,105 tons.
- Mine production of 143,949 tons.
San Gold's current market cap is $308.4M, Revenue is $133M and shares outstanding are 335.2M
The stock traded today under $1 at .91c at the same time that National Bank Financial rated it an out performer with a target price of $2.50 I happen to think that this is a very conservative target and I have been buying all summer, tripling my investment in what I see as a solid, mid tier miner, with first mover status and a solid operation, in a safe and stable country with a history of supporting such mining endeavers.
Having regard to the gold majors propensity for taking over such growing operations, It would not surprise me to see Sangold swept up should merger mania strike the majors as the price of gold spikes into 2013. Majors mostly increase their production and resource base through acquisitions as it is often cheaper for them to buyout such operations than it is to find and develop them.
Disclosure: I own San Gold stock and I continue to average in on dips.
If San Gold is not on your precious metals stock radar, maybe it should be.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.