Mr Henderson, you are contradicting yourself in some of your statements and have missed the intent of my post. The easiest way it was to get the intent of my post was, to read this part;

The moral of the post;

The big guys are always watching and they can move at anytime along the proving up stages of a company.

Talk about misleading! Mr Henderson, you are on misleading and on border line bashing in your next 3 comments that I will respond to;

1)These so called "unproven" reserves above are based on hundreds of thousands of meters of positive drill results. For you to say "all Trevali really has is a resource estimate" is rediculous. What do you think SLI brings to the table to entice Glencore over and above its current resource estimate of 4460 ounces? (which, by the way, is also inferred, and, yes, it too is conceptual in nature). Bulk sampling veins has so far only proven very high grade. It has not prove volume. Without proven volume, what will Glencore buy, exactly? Does anyone here logically think Glencore will pay $10.00 a share (ie.: 1.2 billion!) for 4460 ounces?

1) First off Mr H, if you had did your homework properly, you will find that less than 100 thousand meters of drilling has been done on Santander, and as a matter of fact, had you read their Nov 2010 tech report, you would have seen that there was only ~55,000m of drilling done at that time. Also, you get confused with the interaction of proven and unproven in how they apply to resource calculations, estimations, reserves, etc. And, you are missing the diseminated areas of gold when you only talk about the high grade veins, this diseminated gold will undoutedly play a big part in the proof of the Tesoro, and for you to leave this important "proof" out of our equation, may suggest to me that you are purposely trying to knock what the Tesoro may hold. And, as Agoracom has said here before in a statement about an entirely different subject, "what kind of fool,s do you take us to be?" when you ask if Glencore will be interested in 4460 ounces, thats a direct insult on the intelligence of this board.

2)As the Grey report clearly states, drilling is the culmination of proposed exploration on Tesoro. As the Grey report clearly states, drilling is the culmination of proposed exploration on Tesoro. So far drill results have shown narrow veins, the kind that the Grey report clearly states average 10 to 40 cm in width and rarely exceed it. SLI is many years and hundreds of millions of dollars worth of exploration behind Trevali's resource estimate and may never even come close to what Trevali has. Insitu value of Trevali's deposits is worth many billions. SLI's is currently worth what, 8 mil? ,

2) You are misleading in your statement "So far drill results have shown narrow veins", How do you figure this? Does it actually say in the NR,s that the sampled widths represent vein width,s? Here is an excerpt from the NR dealing with drilling, show me where it states that the widths mentioned are widths of narrow veins, c,mon;

(2) The gold grades are uncut and the intercept reported drill core intercept widths do not necessarily reflect the true width of the mineralization encountered.

The rest of your #2 comment is ridiculous, and would only fit into the bashing category, so I won,t waste my time responding to it.

3)While I will not rule out that a major may one day purchase Tesoro, it will not happen based on one dimensional bulk sampling that chases high grade veins. It will happen based on positive drill results that define a three-dimensional resource footprint. So far a three-dimensional resource footprint has not been found. It may be found. It may not. But based on current information, to compare Trevali to SLI is like comparing an apple to an apple seed.

3) I would class this as you trying to get my goat and by you not reading the "moral of my post"

Now this subject has gotten off topic and this will be the last post on this thread, but I will leave you with a couple more points to ponder.

1) Look at the value of TV,s resource estimate and look at the speculative value the Tesoro has to offer, could be an extremely huge difference in SLI,s favour.

2) The market cap and share structure of TV are in our category, small.

3) For Glencore to buy in to a low profit small zinc operation in Peru, would you not think that they would look at an extremely profitable gold deposit in Peru as well, if it presented itself?

4) An important thing to watch when looking at resource estimates etc, is the metal EQ,s they use. This is a comprised figure and can be misleading if you don,t know what you are looking at. Also pay attention to the fact that the estimated value of the resource was based on "insitu".