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Message: Drilling Where?

To continue with your poorly articulated Bus Driver analogy - I generally won't get on a bus when it is unclear where that bus is going. Or I will get off of a bus that isn't going in the direction to the destination I originally purchased a ticket for and there are few verifiable indications that I will get to that destination within in a reasonable time frame or any money left in my pocket.

It may be fine for you to sit quietly by, perhaps take a nap, talk to other passengers about the scenery and the bumps in the ride and trust that the bus driver will take you to your destination. But for me, if I see the bus driver taking detours away from the destination, or if I see the bus driver is taking a circuitous and unclear route towards my destination, or the bus driver has not arrived at the previously scheduled stopping points along the way, and the bus driver is effectively charging me more fare along the way, then I'm going to start asking questions of that bus driver that go beyond "Are we there yet?" We're probably very different, but I want to know exactly where and when that bus driver is taking me and so that I know whether I should get off the bus or not.

Back to the reality of SFMI, while I didn't make it to Idaho last SHM, I did take the opportunity to meet PQ in NYC over a breakfast meeting with 4 others and later the next day at the NYC broker's meeting. Ask Carmine_Langone if you know him, I don't think anyone else spoke with PQ and his cohorts as much as I did in those 2 meetings as I was grilling him with questions about the operation because I had a bunch of large potential shareholders ready to take the plunge in SFMI on my word. I had a half-completed 30+ page (and growing) due diligence document about all things SFMI that I was going to distribute to a private non-spam mailing list of over 200 potential investors, many very familiar and well-versed in junior mining.

I was grateful to have had that opportunity to meet with PQ at that time and my notes have been chronicled in Agoracom back in March. However, even after lengthy discussions with PQ, I had a lot of unanswered questions, contradictions and a lot of things that didn't make sense to me. I spoke to many SFMI shareholders about the things I was told to compare notes of their understanding of the SFMI investment and what was going on. The bottom line was that there were far too many contradictory statements made by management, by RK and by shareholders who speak frequently with these people for me as a shareholder to say definitively what was or was not the truth of the situation. There were (and still are) factual inaccuracies between what appears in their filings (some of which you've seen corrected), their PRs and what has been told off the record. Ask PQ and RK the same question, see if you get the same answer. So I continue to try to find out concrete answers where perhaps others are just complacent with just assuming that PQ et al are acting in shareholders' best interests and will make their dreams of seeing $.50 per share come true. After witnessing that things PQ said would happen at the broker's meeting didn't happen (or worse) and then seeing how much dilution occurred over the year - in a large part to fund the inflated salaries of family members - I came to the conclusion that SFMI simply was not the best place to have my investment dollars parked and certainly wasn't worthy of recommendation to investors relying on my opinion, regardless of how great everyone who perhaps hasn't spent the same amount of time or has been exposed to the amount of due diligence on this investment that I have.

So, not that it matters, but I still have a few tickets left on the bus ride which I will redeem if/when we get a bit closer to this far-off destination that the bus driver has set, but not thoroughly communicated to its passengers. In the mean time, I will continue to monitor whether the bus driver is going in the right direction as expeditiously and economically as possible while passengers like you sit back and obliviously enjoy the ride without knowing if or how you're going to get there.

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