or Connect
HotStockMarket › Forums › HSM Stock Forum › Canadian Stocks Message Boards › SGR - San Gold Resources Corp
New Posts  All Forums:Forum Nav:

SGR - San Gold Resources Corp - Page 4

post #61 of 87
Very nice hit there and near surface, nice to see one with a decent drill result , THAT DIDNT sell off.
post #62 of 87
And close to another NCM property...

With some map study i guess the mineral strikes would go right toward to NCM...

JV ? I hope so
post #63 of 87
Quote:
Originally Posted by Mitas View Post
And close to another NCM property...

With some map study i guess the mineral strikes would go right toward to NCM...

JV ? I hope so
SGR's Rice LAke is in Manitoba , as far as i know NCM has no claims there.
post #64 of 87
Thread Starter 

Yousa

Those are quite the numbers today. Strikepoint Gold (v.skp) appeared to be a big beneficiary of the news. On trend I suppose. It's hard to imagine the stock backing off from this news.
post #65 of 87
Quote:
Originally Posted by Mitas View Post
And close to another NCM property...

With some map study i guess the mineral strikes would go right toward to NCM...

JV ? I hope so
Ummmmm No.

This is Rice Lake not Timmins.


Wildcat and Strikepoint (Marum) are the two other larger players in the area. SGR actually has a 50-50 JV with Strikepoint on a few of their more promising properties, most notably the one adjacent to the Rice Lake Mine.

http://www.bisongold.com/docs/Rice_L...lt_Map__2_.pdf
post #66 of 87
Sorry my bad,

Misunderstood some info that was passed to me !
post #67 of 87
Looks like a gap up to around $4.00.
New highs (all time high is $4.13) may be in order today.
post #68 of 87
Forget about the new highs comments!
Big sellers showing up this morning.
post #69 of 87
SGR looks like it wants to run today.

Perhaps another 9ounce pt core coming out of the ground?

10 rigs spinning 20 hours a day right now according to SGR.
post #70 of 87
Just hit $4.43
post #71 of 87
Thread Starter 
No. Seven in volume today on the Venture so far. This has become a "go to" stock with the surging POG. Those theories of high grade resembling Red Lake sixty miles to the east appear to becoming true.
post #72 of 87
Yeah volume 2X normal the last couple days. Even touched $5.00 today. Wouldn't be surprised if more news was coming/leaking.

I remember Dale Ginn (think it was him) telling me at a Manitoba Mining Conference a couple years back that the Rice Lake area is identical to the Red Lake area and that SGR is the Goldcorp of Rice Lake. Had a hard time not laughing out loud at the time but he may of been onto something.

Rumours are rampant right now; everything from acquistions, to buyouts, to JVs to 10 million oz potential. Regardless SGR is on quite a run.
post #73 of 87

Huge financing yesterday

San Gold Corporation Announces $130 Million "Bought Deal" Financing
7/13/2010 3:15:25 PM - NFD

BISSETT, MANITOBA, Jul 13, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

San Gold Corporation ("San Gold" or the "Corporation") (TSX VENTURE:SGR) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Dundee Securities Corporation and BMO Capital Markets and including CIBC World Markets Inc., Raymond James Ltd., TD Securities Inc., Cormark Securities Inc., Wellington West Capital Markets Inc., Mackie Research Capital Corporation, Stonecap Securities Inc. and Toll Cross Securities Inc. (the "Underwriters").

Under the agreement, the Underwriters have agreed to purchase on an underwritten basis 32,500,000 common shares (the "Common Shares") of San Gold at a price of $4.00 per Common Share for total gross proceeds to the Corporation of $130,000,000 with the Underwriters having an over-allotment option to purchase up to an additional $19,500,000 of Common Shares. If the over-allotment option is exercised in full, gross proceeds will result in $149,500,000. The proceeds of the offering shall be used primarily for further exploration and development on the Corporation's Rice Lake Project in Manitoba, for the purchase of equipment and for general and administrative expenses and working capital.

The Common Shares to be sold under the agreement will be offered by way of a short form prospectus in all the Provinces of Canada except Quebec and the Common Shares to be sold under this offering will be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The offering is scheduled to close on August 4, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE: San Gold Corporation

San Gold Corporation Dale Ginn CEO (204) 794-5818 San Gold Corporation Investor Information 1-800-321-8564 www.sangoldcorp.com

Copyright (C) 2010 Marketwire. All rights reserved.
post #74 of 87

Now halted today

VANCOUVER, July 14 /CNW/ - The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):

Issuer Name: San Gold Corp
TSX-V Ticker Symbol: SGR - V
Time of Halt: 9:20 am EST
Reason for Halt: Company request pending news


Hopefully some insight on what they plan to do with the $150 million they just raised. And maybe some more exceptional drill results.
post #75 of 87

Winnipeg Free Press Article Today

GOLDEN Golden opportunity
Equity offering could net local mining company $150M
By: Martin Cash

14/07/2010 1:00 AM | Comments: 0
Print E–mail Share ThisReport Error San Gold has done well discovering new gold resources, but it may have hit the jackpot Tuesday with an equity offering that could net the company close to $150 million to use to ramp up production.

The Winnipeg-based company that operates two gold mines near Bissett announced a bought deal with a number of underwriters that, if the over-allotment option is exercised in full, could produce gross proceeds of $149,500,000.

Such a flush treasury could allow San Gold to more than double its gold production over the next couple of years.

"It's a lot of money, but we have a lot to do," said company CEO Dale Ginn.

He said the company wants to build out a couple of new zones and eventually consolidate gold production in the region from four potentially different mines into one efficient operation.

If exploration results are successful in the two new zones, Ginn said the company will spend about $75 million to expand production and build out the mill over the next two or three years.

Last year, San Gold produced about 40,000 ounces of gold. This year, Ginn said the plan is to double that. Within a couple of years he said that total could get up to 200,000 ounces of annual production.

"The idea is that we are getting to a point where the new discoveries warrant a bigger operation, otherwise we will be overrun with resources," Ginn said. "We will have 50 years of resources, but we're not mining it fast enough."

The gold mining business has been bolstered in the last few years by the shaky nature of the financial services industry, which has driven up the price of the commodity to unprecedented heights.

Gold closed up $14.80 to $1,213.30 an ounce Tuesday, about 30 per cent higher than it was a year ago.

The equity offering, at $4 a share, is to close on Aug. 4.

Earlier this year, the company raised about $26 million at $4.05 a share, but that was a flow-through offering where the money can only be used for exploration.

For the first quarter that ended March 31, San Gold generated $14 million in revenue compared to $3.7 million the year before.

The company operates in the so-called Rice Lake Greenstone Belt, about 250 kilometres northeast of Winnipeg. Its main Rice Lake Mine has been a producing mine on and off since 1934.

Company shares closed down four cents to $4.05 on Tuesday.

martin.cash@freepress.mb.ca
post #76 of 87

WTF - must of jumped the gun with yesterday's release

San Gold Corporation Decreases Bought Deal Offering to $80 Million
7/14/2010 9:53:08 AM - NFD

BISSETT, MANITOBA, Jul 14, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

San Gold Corporation ("San Gold" or the "Corporation") (TSX VENTURE:SGR) announces that in connection with its previously announced public offering, that the Corporation and the syndicate co-led by Dundee Securities Corporation and BMO Capital Markets, and including CIBC World Markets Inc., Raymond James Ltd., TD Securities Inc., Cormark Securities Inc., Wellington West Capital Markets Inc., Mackie Research Capital Corporation, Stonecap Securities Inc. and Toll Cross Securities Inc. (collectively, the "Underwriters"), have agreed to decrease the size of the offering. Under the revised terms, the Underwriters have agreed to purchase, on an underwritten basis, 20,000,000 common shares (the "Common Shares") of San Gold at a price of $4.00 per Common Share for aggregate gross proceeds of $80,000,000. As a result, the over-allotment option granted to the Underwriters will now allow them to purchase up to 3,000,000 additional Common Shares for additional gross proceeds of up to $12,000,000. The over-allotment option is exercisable at any time prior to 30 days after the Closing Date.

The aggregate gross proceeds raised from the offering will be $80,000,000 or $92,000,000 if the over-allotment option is exercised in full. The proceeds of the offering shall be used primarily for further exploration and development on the Corporation's Rice Lake Project in Manitoba, for the purchase of equipment and for general and administrative expenses and working capital.

The Common Shares to be sold under the agreement will be offered by way of a short form prospectus in all the Provinces of Canada except Quebec and the Common Shares to be sold under this offering will be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The offering is scheduled to close on August 4, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE: San Gold Corporation

San Gold Corporation Dale Ginn CEO (204) 794-5818 San Gold Corporation Investor Information 1-800-321-8564 www.sangoldcorp.com

Copyright (C) 2010 Marketwire. All rights reserved.
post #77 of 87
Likely going to get slaughtered today, time to go fishing!
post #78 of 87
Thread Starter 

Bought Deal

I suppose they reduced the size of the financing to appease the disgruntled that haven't yet seen cash generating from operations to finance growth. Still long and strong here but would like to see some net income start to flow through from mining of the high grade.
post #79 of 87
They are obviously trying to fast track their growth and feel it is better to raise money now then to wait until they are able to self-fund their growth through operations; which I for one do not think is necessarily a bad idea.

Although it would have been nice to see them operating at full capacity before completing another financing in order to (among other things) increase capacity.

Only thing that bothers me a little is that the financing could of easily been completed at higher levels if they had cranked up operations to near 100% these past 2 Qs. SGR should have had a run-up like Semafo but instead SGR stalled when SMF continued to rise as management could not show a profit.

But had they been operating at capacity, their buddies at Dundee wouldn't of been able to get all those $4.00 shares.
post #80 of 87
SGR is down today with gold flying.

Not sure what is going on here but did see that CIBC lowered their target to $4.75.

I don't think anything has fundamentally changed here and people are just getting tired of watching SGR trend lower with gold flying high. They are well cashed up having completed an $80 million financing at $4.00 in early August; good buying opportunity here at $3.00.

On that note, back in @ $3.00.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Canadian Stocks Message Boards
HotStockMarket › Forums › HSM Stock Forum › Canadian Stocks Message Boards › SGR - San Gold Resources Corp