Welcome To the WIN!!! St. Elias Mines HUB On AGORACOM

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Message: Re: Selling stock at this point will get you nowhere.Too many questions unanswered.
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May 30, 2012 06:36AM
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lb7
May 30, 2012 07:30AM

Mr. Sculpin, "you as well are starting to show where you are coming from, with a statement like this."

What does this mean? Throughout your post, you cryptically imply that I am a basher whose strings are being pulled by someone else. You suggest that I should stand tall for my true beliefs. So I'll tell you right now that I am standing up for what I believe. Just because someone doesn't share your opinion doesn't mean they have been "gobbled up by the wrong things."

You take issue with my statement: "the more likely explanation is that the drill program failed to discover a resource like 98% of the drill programs carried out by junior explorers." I stand by this statement because as of this moment it is true. Maybe tomorrow they will release stellar drill results and this statement will no longer be true, but as of today it is absolutely true. I'm not taking about the C-1 vein or bulk sampling. I'm not deminishing those discoveries, because they are absolutely there and the grade is fantastic. I'm talking about the drills, and so far the drills have not discovered a resource over and above what is already known. That is a fact.

Since you brought up the C-1 vein, doesn't St. Elias have a resource estimate done on the underground workings there? Correct me if I've got it wrong. I thought they have an inferred resource of 4460oz @ 1.04 oz/t. I'm not saying there isn't a larger resource to be discovered. And I'm not saying St. Elias can't small-scale mine/bulk sample those veins until the end of days, but you don't build an open pit mine for 4500 ounces. Mines are built when ounces are proven, and the project is de-risked. I'm not saying St. Elias will never prove up a resource in the future. What I'm saying is they will not prove up a resource with their current published drill results. And I stand by that statement too, even though it will not be popular and likely opposes your viewpoint.

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