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Message: 15 Months of DD

Stewie, you said:

"I may be putting words into your mouth but I get the impression that you may feel that the purpose of the misdirection and such is to cover up/delay the inevitability that the Tesoro is not an economically minable property...I'd be curious of your rationale if that is in fact your thought...."

I feel that the misdirection is simply a bad sign, a reason to be cautious. I don't consider what's happened to be a purposeful maneouver to delay the inevitable necessarily, though it could be. I simply don't know. Maybe one day Tesoro could prove to be a world class gold deposit, but drill results to date have put that likelyhood into question. Better results may follow, but they are not guaranteed.

As for Tesoro being an economically minable property: like I've stated before, St. Elias could probably small-scale mine the veins until the end of days. But that is completely different to proving up a viable large-scale mine with millions of ounces which can be sold to a producer. And if it comes down to small-scale mining, will it bring the shareholder value investors are looking for?

With regards to the drill plan and your conversation with Kevin Killin, since he has not been in contact with St. Elias for over a year, is he privy to any more information than us? Does he know with absolute certainty that St. Elias didn't drill high priority Titan targets? Does he know with absolute certainty what drill core was sampled and what was not? Was he there at Tesoro when the core was selected and sent to the lab? I'm not saying he's wrong - he could very well be 100% correct - but at the same time one must consider the bias and for the image of his company it's in his best interest for St. Elias to have not followed their drill plan.

So if we decide that St. Elias purposely didn't follow the drill plan and purposely drilled outside the anomalous zones, we have to ask why? Like you said before, why spend all the money hiring experts only to disregard them? It makes no sense. So if you believe they purposely didn't drill in the right place then you're left with a conspiracy theory. Personally, I don't buy a conspiracy theory. Others do.

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