In my previous post about getting the Vilcoro back, I said we would have 100% again. THATS NOT TRUE. I knew this, but it slipped my mind and WOX alerted me to the fact,(thanks).We will only have the 50% we had previous this option agreement with Ansell. Emilsen Medina Inga de Brophy has the other 50%. At one time it appeared we may get 95%, but that never materialized. See below.

http://www.steliasmines.com/storage/news_releases/Sli-News-2007-03-FINAL.pdf

Here is the nr where we granted the option to Ansell Corp.

http://www.steliasmines.com/storage/news_releases/Sli-News-2010-18-Vilcoro-Agt-FINAL.pdf

So, I still say its in our best interest to pursue the drilling, I would imagine that Inga would concur. This would still add considerable value to SLI this year, but maybe $1 where I had previously said $2.

Now for the reasons I think Ansell let this property go.

1) I dont beleive they had enough cash to live up to their obligations with the agreement at this time. A quick look at their financials, without any pp done, I cant see them getting the cash to drill this in the near term. IMO.

2) Shawn Ryan. He was awarded prospector of the year at the PDAC, and Ansell just recently did an option agreement with him on his " Dal Property" in the Yukon. Heres a bit about Shawn Ryan;

http://www.marketwire.com/press-release/Ryan-Gold-Corp-Shawn-Ryan-Receive-Bill-Dennis-Award-Prospecting-Success-Prospectors-TSX-VENTURE-RYG-1407028.htm

Heres a bit about the property:

http://www.ansellcapital.com/news/index.php?&content_id=69

So, guessing about the publicity this property will get, it should help Ansell raise cash. Out of the financials I recently looked at, I beleive the option agreement only required around 450k this year, quite a difference to maybe 2 million bucks to keep drilling the Vilcoro. So, IMO, I dont think that Ansell could live up to there commitment with SLI.