St. Elias Mines

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Jimmy Andrews 2005

St. Elias Mines

about 10 years ago

We see here in the Stockwatch article below, some very important allegations made by Jimmy Andrews in 2005. What I find the most interesting, is that Jimmy states Lori is unfit to run the company then, has engaged in numerous illegal activities, perhaps consulted authorities back then, BUT JIMMY WILL WALK AWAY IF HE RECEIVES THE 100,000 SHARES. In his quote below you see him literally saying that SLI is a pump and not get involved, yet he WANTS shares in SLI. Why would he want shares in SLI, if it were soley a scam?

"says Mr. Andrews, "is all pump and this one is just starting and we should be thankful not be involved in St. Elias and other properties." "

So, authorities were most likely alerted back then, we see no disciplinary action taken by regulators since then, and it appears the lear jets, the off shore accounts, the stock manipulation (which is backed by witnessing of how management was going to crash the stock), had continued. Also I find it interesting that he would say then that Lori was trying to "bankrupt" the company, when the Tesoro was purchased about a year earlier. But in 2005, and please check out the info in the link directly below to one of my older posts, I believe then, enough evidence from data was present to come to a conclusion at that time the Tesoro was very valuable. So, perhaps then Lori was going to attempt to bank rupt the company to get the Tesoro property out of the publics eye, and Jimmy Andrews knew of a plan set up to do just that at that time? Isn,t it weird that Lori,s intent seems to be to bankrupt the company at this very time, by denying shareholders a part of the PP and taking what appears to be full salaries right until there was little left in the treasury?

http://agoracom.com/ir/steliasmines/forums/discussion/topics/564580-a-2005-news-release/messages/1776765

St. Elias and president sue naughty Jimmy

2005-11-24 15:07 ET - Street Wire

by Stockwatch Business Reporter

St. Elias Mines Ltd. and Lori McClenahan are suing James J. Andrews for libelling the plaintiffs on the Stockhouse discussion forums from Sept. 29, 2005, to Oct. 21, 2005. Mr. Andrews, a Langley-based self-described promoter, posted his remarks on the Stockhouse website shortly after Ms. McClenahan, president of St. Elias, ended his contract. The plaintiffs claim vindictiveness and his demand for 100,000 shares motivated Mr. Andrews. His comments included allegations that Ms. McClenahan "wished to try and bankrupt St. Elias," "has offshore accounts" and is liable to spill "beer all over self and some unsuspecting footpedestrian [sic]."

Mr. Andrews posted these messages on Stockhouse.com's Bulletin Boards, an Internet discussion group set up to discuss investments in publicly trading corporations such as St. Elias. Mr. Andrews's comments, the plaintiffs claim, pulled down St. Elias's share price, hampered the company's fundraising ability and damaged Ms. McClenahan's reputation. St. Elias closed at 37 cents on Sept. 29, when Mr. Andrews first posted his comments. It closed at 28.5 cents on Oct. 21, the date of Mr. Andrews's last recorded comment.

Chatty promoters

Said Mr. Andrews on Oct. 7, 2005, Ms. McClenahan "was clearly guilty of overpromotion and never put any money into the project at higher profits." She travelled to meetings in "Lear jets and most likely charge them up to the public company. Plus bringing family and their kids friends." Mr. Andrews also took a jab at Ms. McClenahan's personal life, which he claims she related to him after "a few drinks" and was "all touchy, touchy and feely feely." According to Mr. Andrews, she "no longer interacts with here [sic] family as they all took her to court to attempt to safe [sic] her daughter from her as they thought she was an unfit mother."

That post also contained more serious allegations, with Mr. Andrews saying the company president "took down about one million shares plus warrant at 30 cents. Then allowed the market to fly to 80. It should be interesting to see the money trail." Company insiders, suggests Mr. Andrews, "were spreading the rumours, holding meetings. Took down the majority of the PP [private placement] ecept [sic] for a few people who told [Ms. McClenahan] that they were long-term shareholders and deserved some." The company, says Mr. Andrews, "is all pump and this one is just starting and we should be thankful not be involved in St. Elias and other properties."

On Oct. 20, 2005, alluding possibly to the source of his ire, Mr. Andrews says that "the only thing it would take for me to disappear is the 100,000-share finder's fee [Ms. McClenahan] ripped me off for." The plaintiffs say Mr. Andrews is angling for 100,000 free units of St. Elias consisting of shares and warrants, and has threatened to continue his libellous ways until they meet his demands.

Meaning and innuendo

The plaintiffs claim that Mr. Andrews's statements meant St. Elias and its management flagrantly abused corporate funds and artificially boosted the company's value and assets. According to his comments, Ms. McClenahan broke securities rules and engaged in "deceptive trade practices," setting up illegal offshore tax havens which she then used to affect share prices and bypass the need for insider trading reports. Finally, Mr. Andrews meant to say St. Elias and Ms. McClenahan defrauded him.

The plaintiffs also claim that Mr. Andrews implies that investors should not buy shares in St. Elias, and Ms. McClenahan is dishonest and unfit to continue as president of the company. These remarks have caused Ms. McClenahan to suffer "mental stress, pain and distress," say the plaintiffs.

The plaintiffs' lawyers wrote to Mr. Andrews demanding an apology on Oct. 26, 2005. He ignored these demands. They therefore claim general damages, punitive damages and an injunction restraining the defendant from making any more libellous comments. The plaintiffs' allegations have not been proven in court and Mr. Andrews has yet to file a statement of defence. St. Elias Mines closed on the date of the suit, Nov. 18, at 27.5 cents, down 2.5 cents.