Player Avatar XMFYoda (98.43) Submitted: 8/13/2009 9:04:53 PM : Underperform Start Price: $2.67 SGRCF Score: -66.17

San Gold has a well established track record of losing money and issuing shares to keep going. As of the end of 2008, the share count was up to 236 million. The count has risen since, by at least 19 million more with the exercise of warrants. With a share count of at least 255 million, today's price of about $2.60 makes for a market cap of $660 million.

That is a heck of a lot to pay for a company that loses an average of $32 million each year. Also, bear in mind that a chunk of that money is going to various companies controlled by San Gold's Chairman. $4 million in each of 2006 and 2007, and now $6 million in 2008.

Maybe they will dig up enough gold to be worth this price, but I doubt it.

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