So I spoke with John today and he was a very pleasant person to converse with. I'm glad I got over being so timid and picked up the phone. Now on to the good stuff.
I asked about my calculations regarding SGS labs analysis and it turns out that my numbers where off. The lab shows that we can get 170g/t of concentrate from BO district. I did not ask about the hand sample.
To determine how much concentrate can be produced hourly is next to impossible due to the different speeds required to operate dredge and sluice without losing much gold. However one poster has posted their conversation with a dredge manufacturer. Perhaps we could begin rough estimates based on those numbers.
Do you believe we will be profitable this year? Yes
Do you plan to buy back shares? No :(
Carbon credit program is still being pursued however, lack of success at Copenhagan and the recession has taken its toll on the process.
We have 5 dredges working and the profits will be used to increase our mining capabilities. Each dredge costs between $50-70k so to avoid having to sell a ton of shares to fund this, he is working on having 6 other dredge operators bring their equipment to work SL for 30% of the profits. This means shareholders arent diluted, SGCP obtains 6 new dredges with experienced operators at no cost and still keep 70%. Of course this isnt written in stone (or contract) but the operators are probably waiting to see how this season goes. ie. will the gold numbers be worth the trip, is it safe etc.
He is also working to expand agriculture without using any shareholder money. In the future (no time frame) agriculture can forseeably produce SGCP with $40-50million in sales.
After speaking with John I am very confident in this investment decision. He shared with me his vision of building a mining conglomerate with 3 areas of revenue: mining, agriculture, and carbon credits. He cares about the longs and want us to be able to look back and feel that we were apart of something special which also made us wealthy. He is not content with this being a .10-.20 cent stock. He would like investors to understand that Mining takes time and does not happen overnight. He is confident we will get there but nothing is guaranteed.
