Topic: How To Invest

Pat: I own quite a bit of San Gold and also am getting tired of seeing no progress there. What do you think of this stock? Thanks.

Article Excerpt

San Gold, $2.04, symbol SGR on Toronto (Shares outstanding: 314.8 million; Market cap: $642.2 million; www.sangold.ca), operates the Rice Lake gold mine in Manitoba. This mine is about 200 kilometres northeast of Winnipeg, and west of the Red Lake mining region in neighbouring Ontario. The Rice Lake gold mine originally operated from 1932 to 1968. During that time, it produced 1.36 million ounces of gold. It remained idle for almost 30 years, until Rea Gold Corporation decided to rebuild it. Rea installed a hoist and a new shaft, and it built new surface infrastructure. It also expanded the mill. But before Rea could begin mining gold at the site, it ran into financial trouble and filed for bankruptcy in 1997. Harmony Gold Mining Ltd. of South Africa bought the property in 1998 and produced 110,000 ounces of gold before low gold prices prompted the company to close the mine in 2001. San Gold bought the property in 2004. By that time, previous owners…