bpat, I agree with your whole heartedly that expansion has to be worthwhile. Look at what is happening in the territory of Nunavuk. It is expensive to mine but the gold is extremely high value. It looks as if the mining engineers have finally been able to figure out where the gold source is in the Yukon for the 1898 gold rush. And gold mine after mine after mine keeps coming on stream in Ontario. And it isn't even very far from Vancouver where gold has been heavily mined in the past and where gold and silver mining are being carried out there presently. Moreover, Canada's north is so unexplored that there are huge areas no one has even set foot on. 

I have to disagree with you about gold mining in China. There has been gold mining in China for centuries. That is not to say new mines can't be found but it becomes increasingly difficult. As you point out, Mongolia mining is fantastic since it was unexplored by the Soviet Union. However, while the national government of Mongolia wants foreign development, it is very suspicious of it. 

Most importantly is that CGG has one very good gold mine and one very good copper mine but it also has around four hundred million shares. I am almost certain mining expansion is of major concern for CGG, but at least publically little is disclosed and the stock price moves up a bit and then drops a bit. 

Canada is mining friendly and it has a trained mining force. When a corporation files as a Canadian corporation and obtains all the benefits of being a Canadian corporation then it seems to me it needs to consider doing some aggressive exploration in Canada.