San Gold Resumes Milling Operations WINNIPEG, MANITOBA--(Marketwire - July 2, 2012) -
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) announces today that milling operations resumed July 1 at its Rice Lake Mining Complex, with more than 1,900 tons milled on the first day of operations.
Milling operations were suspended in early June after its ball mill pinion suffered an unexpected failure. Mining operations continued at an average rate of more than 1,600 tons per day while repairs were completed to the ball mill. As a result, approximately 54,000 tons of ore were stockpiled as of June 30.
The Company has substantially increased its milling capacity over the past year, achieving peak daily production of 2,500 tons per day during the second quarter. As a result of this increased capacity, the Company expects to mill the majority of this stockpile during the third quarter and remains confident in its annual guidance of between 95,000 and 105,000 ounces of gold produced in 2012.
"It is a testament to the strength of the operations team that we are able to experience this kind of event with little overall impact on our operations," said George Pirie, San Gold's President and Chief Executive Officer.
During this period, the Company also completed various other maintenance activities related to milling operations, including the scheduled annual liner change in the ball mill.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
CONTACT INFORMATION: San Gold Corporation George Pirie President and CEO 1 (416) 214-0024
or
San Gold Corporation Tim Friesen Communications Director 1 (855) 585-4653 www.sangold.ca
INDUSTRY: Manufacturing and Production - Mining and Metals ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ps I've been buying these shares down here!
San Gold Reports Q2 Production of 18,241 oz Gold Despite Mill Interruption
WINNIPEG, MANITOBA--(Marketwire - July 12, 2012) -
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary results of 18,241 ounces of gold produced plus 55,000 tons of ore in surface stockpiles, representing approximately 10,000 ounces of gold.
Overall, that brings total mine production to more than 28,000 ounces of gold during the quarter, a new company record, and positions the Company well to meet or exceed full year production guidance of between 95,000 and 105,000 ounces of gold in 2012.
let's get the Au bull back UP and run much Higher :-)
bigfish1972 welcome to San Gold Corporation (SGRCF :-) good to see you @ SGRCF Gold mines bargain :-) Person mark #10 for you my friend :-) keep up the good info SGRCF TEAM member :-)
thank you for good info - $5 would be sweet, but let's get to $1.35 first and close above that 200 SMA! Loving the price action here! Tell you what though, the level 2 shifts around very strangely, LOL. And what's up with these odd prints of 1.0949 and such? Oh well, as long as we are going up, who cares? LOL!
With today's news from the Fed, I expect a surge here and with many other gold stocks tomorrow.
I also noticed that the 20 SMA is gonna come up and meet the 50 SMA any day now for a nice little golden cross action. This has become my favorite stock to own very quickly.
hotdog I agree, the LT POG Gold Prices Could Peak at $5,000: Bank of America Posted on September 21, 2012 by News 21-Sep (CNBC) —
As gold prices hit a 2012 record of $1,787.40 per ounce on Friday, Bank of America Merrill Lynch analysts said the precious metal could soar to $3,000 or even $5,000 over the longer-term.
“We will be focusing in on gold. Ultimately we think gold can trade between $3,000 and $5,000 an ounce going forward,” MacNeil Curry, head of foreign-exchange and rates technical strategy at BAML, told CNBC’s “Worldwide Exchange.” “Certainly not within the next few months, but on a long-term basis we are on a well-defined uptrend, and we have got more to run before that runs its course.”
…“We believe the growth in supply of fiat currencies [those without intrinsic value] such as the U.S. dollar and dollar- linked currencies such as the renminbi is a key driver, followed by concerns regarding inflation and inflation volatility which could follow,” Brebner and Fu said in the report.
[source]
SGRCF AuBull has a long way back UP to catch UP with a very oversold and undervalued 666 short selling banksters manipulations -
Looks like a little patch of resistance at 1.11 taken out - then it's straight up to 1.50! :-) a old target its $5 to focus ON GO SGR :-)
SGR Q2 Mined ore at a record quarterly rate of approximately 1,709 tons per day for a total of 155,495 tons, resulting in a surface stockpile of approximately 55,000 tons representing more than 10,000 ounces of gold.
To underscore this statement, the Company produced 11,366 ounces in July.
Set an average mill throughput record of 2,032 tons per day in May 2012.
Realized a cash operating margin of $637 per ounce of gold sold with a realized price of $1,607 per ounce through the quarter.
WINNIPEG, MANITOBA--(Marketwire - Oct. 22, 2012) - George Pirie, President and Chief Executive Officer for
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF), is pleased to announce interim results of its ongoing 2012 diamond drilling program on the 007 deposit within the Company's 100% owned Rice Lake Project located in Bissett, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system.
Since being discovered in 2009, the 007 deposit continues to demonstrate robust grades and widths across all four lenses of the deposit and it continues to be consistent at depth while structural characteristics are becoming increasingly predictable.
This drilling activity is part of the Company's program to upgrade resources into higher confidence categories and to increase reserves within the mining complex. Overall results are positive and comparable with the Company's March 31, 2012 resource update. The Company will continue drilling for the remainder of 2012 and provide a resource update in the first quarter of 2013.
"The 007 deposit drilling continues to prove up high-quality resources which are accessible from existing infrastructure. The drilling continues to confirm the continuity of the deposit at depth. The ongoing development of the 16 and 26 Levels will provide drill platforms for further resource and reserve definition. Mining is currently scheduled to begin from these levels in early 2014," said Mr. Pirie.
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