Hi Wiser,

Google is your friend.

According to the Yahoo! Finance Glossary, shorting a stock involves "selling a security that the seller does not own but is committed to repurchasing eventually. It is used to capitalize on an expected decline in the security's price."

In other words, someone who shorts a stock borrows shares from a brokerage house in order to sell them in the hope that he or she can buy them later (or cover) at a lower price, return the shares to their owner, and profit on the difference. The key provision in this agreement is that a short seller has to buy back the stock. If the stock suddenly shoots upward, you're paying the difference.

So you're betting on failure. The Motley Fool demonstrates the ups and downs of shorting with a wonderfully appropriate scenario involving shares in a gondola manufacturing company.

If you're thinking about getting into short selling, Investopedia advises that the practice has "many unique risks and pitfalls." It's the opposite of going long -- buying a stock and forgetting about it. Shorting is akin to putting yourself in a hole, and digging your way out.

Mods feel free to put this in the off topic section... but shorting is directly applicable to SLI!

flaps

Very happy that Lori has listened and clarified a few items.
This is a positive NR.

Flaps

Flaps, predicting the future share price is a lesson in futility. It very well could be over $1.00 with no news to.

Yup, you're right there Mrs C. It was just some frustration talking!

Flaps

Didn't think I would ever see my entry point again but hello 50c!

Im in for the long run but it really is getting very frustrating!

Oh Well, another 2 or 3 years of waiting isnt going to kill me. I hope its not that long but really, I have not seen any indication that SLI will be in a position to sell Tesoro by the end of this year at least.

Im curious to see how low the SP will go. I'm guessing 20c within 3 months if no good and I mean GOOD news is forth coming.

Flaps

I know the jury is out on some of his postings and his intent but I thought this email from his blog might be of interest to some.
Hogs recent submission is very interesting but I haven't been able to get into the photos yet as I have been flying all day.

Perhaps this info along with Hogs will allow for some interesting insight and thoughts from all.
He asks at the bottom that we should make up our own minds on the drill results but from what I can (as a complete drilling/mining numpty) it's appears from his pic that they are fine. Although we have drilled some high priority targets we don't seem to have touched the main part of the major ovoid.

Also, as I think about it... High priority doesn't mean "expect high grades". It just means we want to drill these first. Perhaps they are just calibration holes against the quantec survey.
Anyway, enough rambling from an idiot. Here is the email I received from primed.

New post on The Primed Report

St. Elias Mines – (SLI) – Drill plan explained, graphically!
by Steve
Trying to explain the drill program to readers through text is a very difficult exercise in linguistics. I am not a professional writer as is evidenced by the number of typo's and grammatical errors that find their way into my writings. Never-the-less, where words fail I am able to present to you graphical imagery to get my point across.

As I said in an earlier post, St. Elias Mines did not drill perimeter holes. They did in fact drill the Quantec drill plan as prescribed by Quantec. In doing so, SLI has drilled high priority anomalies near surface. Coincidentally those near surface anomalies and in close proximity to the giant OVOID anomaly. So much so that you may consider these first 11 holes to be perimeter holes for the OVOID. The reality however; is that these drill holes are the first 11 pilot holes testing the high priority anomalies near surface.

To make my point crystal clear I have taken the pictorial drill program from Quantec and I have overlayed it on the topographical view of the giant ovoid anomaly. I will do discuss my opinions on the results as I have already done that many times on the stockhouse forum and right here: http://primed24.wordpress.com/2012/01/27/530/

Please take a few minutes to view the drill plan in pictorial representation against the giant ovoid. Then draw your own conclusions as to the quality of the drilling results.

Steve | January 29, 2012 at 5:30 pm | Categories: Uncategorized | URL: http://wp.me/p14XFN-8N
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Transferring can be done. But, there's no doubt when this is done, if you transfer 2500 shares for example into your TFSA, then you'll have to match that transfer (which is basically a sell) to a 2500 share purchase, or to an average purchase price, and calculate & claim your capital gains. You'll for sure have to pay capital gains on that share amount.

If this is not being done by some, then It will be at sometime in the future.

Thanks guys, I/You can make a transfer but you are liable to Capital Gains at some point.

Unfortunately I don't have the Cash to pay that Capital gains (even if not liable until this time next year) so I just cant afford to do it.

As my investment will only be taxed at half of my income bracket and I anticipate selling for a rather large amount.... I'm not getting too worried about paying some tax!

God I hope it happens this year!!

Cheers All

Flaps