Timmins & Beardmore - Northern Ontario
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Message: News in August...

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Re: News in August...

in response to Re: News in August... by Goldhaven
posted on Jul 29, 09 05:24PM

This talk of acquiring advanced gold projects by Sage doesn't seem realistic at this stage. The focus should be on drilling the GE and Paint Lake properties. I estimate about 121 million shares have traded since the share price dropped below 10 cents last October. Some of those shares were re-cycled but it's still a significant proportion of the float. Then there's the merger with CPW which cost 59 million shares at about 6 cents value and the PP with 10 mil @ 6 cents plus 5 mil warrants @ 10 cents. That's a mountain of cheap paper that will have to be dealt with before considering acquisitions. I imagine if we get some good drilling news there will be some extreme share volumes trading, certainly in the tens of millions in a day. August will be interesting.

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