San Gold Corporation (SGRCF)

[goldenpolarbear]

"...“Successful exploration over the past years has defined substantial resources, but the mine has not been run properly and there has been an on-going problem of failing to deliver a grade of ore to the mill that is close to expected grades at a reasonable operating cost,” Mackie Research analyst Barry Allan wrote in a note to clients.

“Given the amount of combined debt outstanding, and an absence of near-term cash flow generation, we fail to see any residual value for equity shareholders.”..."
http://www.bnn.ca/News/2014/12/23/San-Golds-future-uncertain-as-it-begins-restructuring-process.aspx