Let me clarify…

I am not suggesting that management was trying to drill a few dud holes to throw everyone off. Silverback quoted:

“The drill holes will test high-priority drill targets identified by Titan 24 geophysical surveys and the down-dip extensions of known gold mineralization.”

Look closely at the following link:

http://agoracom.com/ir/steliasmines/forums/discussion/topics/491511-recommended-high-priority-drill-targets/messages/1572333#message

There are a bunch of “high priority drill targets” that are not drilling into the anomalies. Why not drill these first?

Let’s assume that management knows more about the property than we do (which should be obvious). Let’s assume that they have seen enough that they have decided they are going to see the whole drill program through. If the plan always was to drill all of the holes anyways…the sequence could be very important!!

Why show all your cards on the first drill? If they drill T11 and T17 and a few other holes in the anomalies first…they may not get a chance to drill the remaining holes. That is what happened to Catherine McLeod.

As successful as Arequipa was, Lori has mentioned several times that Catherine McLeod didn’t get a chance to prove up the full value of the property before the hostile offers came in.

I don’t think getting a quick buyout is enough for Lori. I think she wants a chance to prove up the full potential of the property before someone aggressively goes after it.

Have a plan. Do it right. Don’t show your cards too early.