St. Elias Mines

Moneybags It appears that you do not have any faith in the mgmt of SLI. SLI is not going to do anything on this parcel. IGD however with this option must do so to earn their 60%. This allows SLI to concentrate on Tesoro and hopefully shortly thereafter Vilcoro. You can not lose something which you never had. It is obvious to me that this positive to SLI shareholders. I would much rather have 40% of a pie which is worth something than 100% of a piece of land with no work done on it. As others have said this removes this parcel from any Tesoro sale which allows us to continue to participate in any upside not only in our 40% but in the IGD shares issued to SLI in the transaction. IMO