Probably for these reasons as well "this is a re-post from a SH post a few weeks ago" but i think it's fairly well balanced
10 core properties, 3 in PERU & 7 in British Columbia Canada.
(valuation-wise, these properties should be considered worthless until proven otherwise. Many or most junior resource companies have this many properties or more and are given zero value for them)
Flagship property - The TESORO GOLD PROJECT in PERU
Analyst report (Paul Gray) available on website @ www.steliasmines.com
Paul Grey is NOT an analyst, he wrote a 43-101 tech report
2nd analyst report out Oct 19, 2011
(this report postulates that the Tesoro veins likely contain an aggregate 3 million oz of high grade gold, but over 12 years and 1000m of underground exploration, SLI has translated these veins into a compliant resourse of 4460 oz @ 1.04 oz/t. Will it therefore take a million meters of underground work to reach 4.5 million oz?)
This was basically paid advertising, not an analyst report. It was poorly written.
CANADA - mining friendly, proactive.
PERU - mining friendly, proactive.
(if you consider talk of nationalizing mines "friendly")
You forgot the frequent protests AGAINST mining and exploration
4 optioned partners on 6 of OUR properties to spend approx $9.0 million over 3 Years.
(puts the risk of failed exploration on other companies and is a good model)
3D geophysics completed on 100% owned TESORO GOLD PROPERTY in PERU on website.
(this does not add any value to the company, it is an exploration tool and a cost of doing business, and until stated otherwise looks to be of little use finding economic ore)
1st rig drilling the TESORO GOLD PROPERTY since Aug 17, 2011
(this again adds no value to the company, it is a cost of doing business and will only add value if the drill rig finds economic ore, which so far it has not)
Possible spin off of Canadian properties (vote passed @ AGM)
(this could prove to add value for shareholders)
Drilling on 100% owned TESORO GOLD PROPERTY doubles to 20,000m as of Dec 12, 2011
(I think it's plainly obvious now that the program was doubled because the first 10,000m was a bust. Again, this does not add any value to the company, but rather a necessary cost of doing business that will only add value if economic ore can be found)
2nd rig to be drilling on the TESORO GOLD PROJECT as of Jan 2012
(more cost to shareholders that may or may not add value to the company)
Hired 2 more Geologists to work on the TESORO assisting James Thom
(an economic deposit is either there or it is not. If hiring two more geologists pushes SLI in the right direction toward discovering a deposit, then this is a plus)
Approx $10 million in SLI treasury & millions$ more available through exercising options & warrants
(at least they have some cash. The question is how long will it last before they have to return to market? They spent 11 million last year, with less than a million on exploration. Now that they are going to have 2 drill rigs, how long will 10 million last? If drilling proves fruitless, SLI will likely be financing again in less than a year, possibly 6 months, and at what shareprice?)
$4 million exploration program ON GOING on TESORO GOLD PROPERTY.
(at least they're active, but it can be a double-edged sword)
ASSAY RESULTS out & more PENDING
(let's be honest and agree the last results were very poor. Out of 4400m of drilling they found an aggragate 3.2m of nearly economic gold. What happens if the pending assays look the same as the last batch? How forgiving will the market be this time?)
10km of trenching completed w/ 100's of samples taken
(if trenching can be translated into compliant ounces, this is probably the most positive thing going for SLI at the moment, but the fact that this info has yet to be released is a red flag, just like how the drilling results were taking forever -- good news arrives on the bullet train, bad news takes the slow boat to China)
PURE SPECULATION. We have trenched for MONTHS but the number of meters or samples taken was NEVER published. Stick to facts.
Continuous trenching of HIGH GRADE ore greating huge value for ST. Elias Mines
(I know Murry likes to bandy about some big numbers, but please direct me to the news release that shows this, and exactly how this is "creating huge value" for St. Elias. The people in the company like to tell shareholders how they're pulling out 11 oz/t, which of course is impressive, but SLI has so far been unable to translate that into a resource, and until they do, there is no justification in it's current 120 million market cap.)
Trenchign of high grade ore is small scale mineing. So, are we mining or exploring? If we are exploring I guarantee you its not all high grade ore. This is a pumpers comment.
Extensive trenching program has commenced (1.2km in first week) on the TESORO GOLD PROPERTY
(I hope it pans out)
Initial trenching assays from 2010 on website (IMO-excellent results)
(has this or will this add to the compliant resource estimate?)
I have never seen a 43-101 compliant resource estimation from trenching....
TESORO - Over 50 visual Gold Bearing veins @ surface w/ aggregate length of over 9.2km.
(they definately have high grade gold, but can an economic deposit be proven?)
Visual GOLD, disseminated GOLD, HUGE Anomalies & HIGH GRADE pods.
(though I wouldn't rule out any of the above, the huge anomolies, high grade pods and disseminated gold are now all looking like long shots)
TESORO - 2 main vein corridors w/ aggregate length of approx 15km.
(sounds awesome, but can it be proven to be an economic resource?)
The 15 km has not been shown to be continuouse. Misleading statment.
Over 1300m of underground development completed on the TESORO by St. Elias Mines
BULK sampling, 1157 tonnes averaging 0.93 oz/t (28.9grs/t).
(impressive, but is bulk sampling these veins going to lead to a resource that can be sold to a major? Or are such numbers merely a tool used to inflate the share price?)
We have drill results that did not detect high grade gold. Proving these same number with drill core may be very difficult.
55 geophysical anomalies on TESORO initial 5000 acres. 52 drill holes recomended by Quantec
(so far they have come up empty. Whether they will continue to come up empty remains to be seen)
Misleading again. 19 are primary = good chance of finding gold, ~26 are secondary = fair chance to find gold, ~10 tertiary = poor chance to find gold.
10 anomalies related to known methothermal gold mineralization within the TESORO structural corridor.
(drilling will determine if there is anything economical)
Not less then 6 major MINING companies from 5 countries working in PERU.
ON GOING WORLD WIDE EXPOSURE.
(see stock promoting and inflated market cap based on hopes and dreams that may or may not be realized)
Waste of money... but we are stuck with it now
Listed with Standard & Poor's.
2 international IR firms (London, England & New York, United States).
Hired professional consulting/real estate/Legal representation of overseas interests based in New York, USA.
Complete 3D QUANTEC geo physical survey on 5000 acre section of TESORO GOLD PROJECT is completed.
(at a cost of what? Has this proven to add value to the company? Again, a cost of doing business that may or may not aid in the discovery of an economic deposit)
Zones (vein clusters) increased to 39 from 13 after successful TITAN 24 geophysical survey
Independent 43-101 technical report on TESORO project completed & on SEDAR
(yes, technically speaking, hopes for Tesoro are high (see market cap), but until results start translating into proven ounces, this remains highly speculative)
Pumping, Titan24 can not be assumed to have detected vein clusters. Anomalies can be many things.
Carmi Molybdenum Property 43-101 compliant estimate of +80 million lbs, so far
(50% owned, low grade, likely worthless)
Stocks with larger deposits are trading based on ZERO value for moly.
VILCORO GOLD PROPERTY "Enviromental Impact Study completed
DRILL PERMIT granted to "St. Elias Mines" on 100% owned VILCORO GOLD PROPERTY in PERU
(they have a drill permit, let's add 20 cents to the share price!)
If they don't use it, then its not worth the paper its written on.
Optioned CUEVA BLANCA PROPERTY to Intigold w/ 1.5% NSR + cash & Shares - May 9/2011
Options Stategic claim adjoining the TESORO to Intigold (Chance E)
(isn't this Lori's company too?)
Extensive work done on Cueva Blanca Property by St. Elias Mines (historical)
Optioned partner "Dorex" STRAWBERRY FLATS GOLD PROJECT Phase 1 geochemical assay results are in hand
Proactive management team with shareholder value in mind.
Optioned partner "Intigold", BEAVERDELL GOLD/SILVER PROPERTY in BC Canada, goes public (V.IGD)
59 news releases since Mar 01, 2010
TESORO property land base increased 249% to 17,436 ACRES - Oct 13/2010
(the property is so large it will take them a thousand years to explore it given their current pace)
Gold targeting RECORD HIGHS continuously
(while gold juniors target record lows, except SLI, despite dismal drill results)
Retains new corperate legal counsel
New CFO resently hired
Appointment corperate secretary
3 new appoimties to the board of directors
TFSA eligible ("only in CANADA you say - pitty")
New website COMPLETED
Long & positive on SLI The Don
ONLY A PUMPER WOULD CLAIM TO BE DRILLING A MOUNTAIN OF GOLD WITH NO RESULTS TO BACK IT UP.
$$$$$$$$$$$$$$$$$$$$$$$$DRILLING THE MOUNTAIN OF GOLD$$$$$$$$$$$$$$$$$$$$$$$
