Sutter Gold Mining (SGMNF) has been an interest and holding of mine for the better part of a year. My stock position is small relative to my total portfolio due to the risk factor of small start-up companies. The company appeals to me for a few reasons...
1) Gold price increase potential
2) Small miner close to production (December 2012)
3) California's history of gold mining in the foothill region (Gold Rush)
4) I live fairly close to the mining location and have an interest in local businesses (without this factor, I probably would have already sold my total position).
On Wednesday, Sutter released more news about its production progress and stated that it is on schedule to meet the December production deadlines. That's good news and I am eager to see the first production report as it could strongly influence the direction of the stock price. The press release also had some pictures from the site that shows progress in construction of the mining sites and mill. These pictures are great to see because it provides some perspective to investors for progress, size and scale of the operation.
To my delight, everything is looking very good. While I have ZERO experience with mining (only what I see on TV), it appears that the construction of mine sites (mine openings and mill) and equipment is high quality. There isn't any rinky-dink equipment, like you'd see on some of the gold mining TV shows. This is a real operations.
It all looks good so far. So, we sit tight and see how it all plays out.
Check out the recent press release...HERE
~JP
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