BREAKING NEWS: FR OUT!!!!!!!
31 March, 2011 field report
Year end financials and disclosure statement have been completed and are in the process of being filed with the relevant agencies.
As of March 25, 2011 SGCP extracted 105.3 ounces of gold from all project sources and 82 pieces of diamonds (.05-2.3 carats). We expect these numbers to increase significantly as we have now accessed what we consider to be the pay gravel at most sites.
Much of the dredging activity during this quarter has dealt with removing large amounts of lower grade overburden sand which caused far more difficulty than anticipated due to its thickness. However, during this process, a large quantity of high-grade concentrate has been recovered and retained for future processing using more sophisticated technologies.
Unfortunately, SGCPs dredge operations project manager contracted malaria in March but is expected to make a full recovery and be back to work in the first week of April.
SGCP has completed all harvesting from the past years planting and has commenced the current seasons preparations. The company expects to use profits from last seasons activities to enhance and expand/vary this seasons crops.
In response to the significant increase in worldwide cost of food supplies, SGCP is in ongoing discussions regarding financing to significantly increase its agricultural operations. It should be noted that this financing does not involve the use of company stock. Our goal is to have 100,000 acres under cultivation within 5 years. I believe our shareholders know that the price of food continues to rise and we believe this trend will continue.
SGCP continues to monitor opportunities in the carbon market. We will watch closely how the international community reacts to the recent tragedy in Japan. http://www.sierragoldcorp.com/field_reports.php