Spartan Gold fka SPAG

[longinvest]

I found SPAG after looking over some loosers for the day, but found some interesting information about this company. They are at .20/.80 today and looks like they are struggling to stay afloat. They recently retired 380mil shares (correct me if I am wrong), and have made no revenue from operations.

But I found these articles:

http://community.nasdaq.com/News/2012-02/update-sphere-resources-up-40-as-commences-its-2012-winter-drill-program-optionee-duncan-park-hlgs-flat.aspx?storyid=122748

and this one:

http://www.marketwatch.com/story/sphere-resources-drills-23526-gtonne-gold-over-07m-plans-winter-drill-program-in-red-lake-ontario-and-outlines-activity-near-its-properties-in-nevada-usa-2012-01-31?reflink=MW_news_stmp

These are articles from within the last few weeks, and do not appear on their website, nor on any news from the company.

I am not in the mining industry and have a question.

How long does it take from the beginning of operations of this kind until the production of an ounce of gold (i.e. how long usually until money is being made)?

I am considering buying here, but will watch this for the next few weeks to see if the PPS continues to decrease.

I am surprised that they have not announced these findings on their website.