iTri

I beleive its too early for anyone to give a solid answer on that question. We can only speculate at this time that things will change in the coming months. They say it in the circular theirselves that they can,t remained focused over this many companies, hence the spin out. To take it a step further, I agree with you and see it becoming maybe a conflict of interest if it were to continue this way. As it stands now and in the near future, our present management will govern Havilah, St Elias Mines, Intigold and I guess you could add Minera Santa Elisa(our subsidiary) in there as well. Lori also has at least one other company she is owner of, Senojec.

This would say to me that things will most likely change in the near future. I could see management running 2 companies, Havilah and SLI, each with their own focuses, where Havilah could be focused on in the spring/fall and Peru mostly in the rest of the year.We need to retain Santa Elisa as it is an established Peruvian company that is needed/or make things easier when dealing in Peru. We don,t really need Inti if things were to remain the same.

So, IMO, by looking at what I said above, I think something is gonna happen that is gonna restructure these loose ends in the near future. Havilah and Inti are made for a reason, and it is not to complicate things, but part of a process of what is happening with the company. I have to give Lori credit in being what appears to be a proactive and efficient move. This gives her many options at the moment and by splitting the company up, makes it a little more complicated if a big guy took a run at us. She has all the defence mechanisms in place to protect the company as best she can. You could also look at this as protecting shareholders and further securing that we will get a fair deal for any property and won,t have anything taken from us on the cheap. Throw the loyal shareholders into the mix, and you have a solid argument that we are well protected against any low ball offers.

So, it appears we have management into too many companies at the present, Lori knows this, but I think its just looking this way to us where she is being proactive. I beleive she will be able to justify her actions in the near future through various possibilities.These are most likely strategig moves on Lori,s part and probably should be percieved that way by us. To me, its the only thing that makes the most sense.

IMO