St Andrew Goldfields (SAS)

[Ricepad]

St Andrew Goldfields Is Quietly Developing Its Taylor Project To Increase Annual Production Rates With 45% Before Year End


Summary

St Andrew Goldfields is a small scale gold producer with 2 operating mines in the prolific Timmins region in mining friendly Ontario, Canada.
The company has a solid balance sheet with $25.7M in cash and $22.1M in current liabilities, just $0.7M in LT debt and $13M in deferred taxes and asset retirement obligations.
St Andrew Goldfields has been cash flow positive for the last 3 years (FY2014 $30.9M), and consistently cutting AISC since 2012 until the current, healthy $937/oz level.
The Taylor project is advancing towards scheduled production in Q3/Q4, 2015, finally adding about 41k oz to a more or less constant 90-100k oz annual production.
A recent fatal accident caused the share price to drop about 20%, but I don't expect it to be caused by irresponsible management, and therefore provides a solid entry opportunity.

More here.

Looks like people are starting to notice. I've been in for a while since Nov. 2013 at $0.25 and holding on for China to announce it's gold reserves, it's membership into the Special Drawing Rights, and a new gold backed yuan currency. We are living in very interesting times and I have a lot fear going through me. I pray for everyone in the U.S. that they realize that things are going to get much worse economically.