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Thanks for the post, basserdan. That PR on the geologicalreport was ridiculous. No explanations. And the manipulation is transparent.
Have you talked to the company?
St Elias Mines (SLI.v): Yet another KY Jelly job on retail saps that will not be investigated or prosecuted by the pathetic Canadian regulatory authorities
1/11/12
St Elias Mines (SLI.v) has always had "a certain odour" about it and although it's a stock that's never been mentioned on these pages, at least a dozen mailers can testify to your author's "avoid hell yeah just avoid" call on SLI.v over time. So let's check out the trading pattern over the last 10 days over at SLI.v.
This is a stock that has a trading average of less than 200k shares per day (with a lot of that volume bolstered by either very pumpy or very dumpy days). So suddenly, over the last three days of market we saw large lumps willing to sell at any price available and a stock that's been trading at-or-around $2 for a long time indeed closed at $1.42 yesterday.
Then after the bell last night this pearl of a NR ( http://tiny.cc/1dfpk ) hit the wires which basically talked of SLI.v not finding the massive intersects of wonder mineral that had been rumoured and whispered for so long. Instead we get 30cm or 50cm skinny veins at depth which wouldn't be economic with gold at $5k/oz. The result is an SLI.v down 49% right now on very heavy volume (update: now 54% down on 1.3m shares traded...ouch)
So the basic question is: Who tipped off who about these results? Quantec? The drillers? The SLI.v management? I'm sure it'd be great fun to find out exactly who was selling and what kind of family/friends relationship they have with those close to the sensitive information since last Friday, but sadly we're talking about Canadian capital markets and not one that has a decent reputable regulatory body. The scumballs will continue scumming and the stuffed suits in Vancouver and Toronto who are supposed to keep things above board will do their normal bugger all about it.
http://incakolanews.blogspot.com/2012/01/st-elias-mines-sliv-yet-another-ky.html?
I am wondering if the two directors were led to believe that the gold report would have been better...and resigned when they found out they were mislead.
2 of the directors just resigned. Any reasons known?
News out after the close
St. Elias Mines Ltd. -- 2011 Diamond Drilling Gold Results -- Tesoro Gold Project in Peru
VANCOUVER, BC--(Marketwire -01/10/12)- Lori McClenahan, President, St. Elias Mines Ltd. (TSX-V: SLI.V - News) (Pinksheets: SELSF.PK - News) (US Clearing Symbol: SELSF) (Frankfurt: EKL.F - News) announces gold results from diamond drilling completed at the Tesoro Gold Project in Peru. Eleven Diamond drill holes, totalling 4,374.50m have been completed to date.
Gold values greater that 1000ppb (1 g/t) are as follows:
---------------------------------------------------------------------------- Hole Depth Zones From To Interval Au Hole ID (meters) Tested (meters) (meters) (meters) (ppm)---------------------------------------------------------------------------- DDH_TE_01 241.50 Central 151.45 152.02 0.57 4.144---------------------------------------------------------------------------- 154.71 154.97 0.26 4.551---------------------------------------------------------------------------- DDH_TE_02 250.50 Central 30.80 31.22 0.42 3.432---------------------------------------------------------------------------- DDH_TE_03 350.50 Central 183.26 183.53 0.27 1.441---------------------------------------------------------------------------- 204.79 204.93 0.14 2.974---------------------------------------------------------------------------- DDH_TE_04 576.10 Central 270.66 270.84 0.18 1.148---------------------------------------------------------------------------- 330.69 331.12 0.43 9.438---------------------------------------------------------------------------- DDH_TE_05 301.40 Central 29.33 29.46 0.13 2.074---------------------------------------------------------------------------- 156.88 157.13 0.25 11.64---------------------------------------------------------------------------- DDH_TE_06 338.10 Central 91.60 92.32 0.72 1.508---------------------------------------------------------------------------- 112.26 113.00 0.74 23.50---------------------------------------------------------------------------- 113.32 113.67 0.35 9.582---------------------------------------------------------------------------- 124.70 125.70 1.00 1.051---------------------------------------------------------------------------- 126.70 127.50 0.80 1.594-------------------------------------------------------------------------------------------------------------------------------------------------------- Hole Depth Zones From To Interval Au Hole ID (meters) Tested (meters) (meters) (meters) (ppm)---------------------------------------------------------------------------- 156.09 156.46 0.37 5.089---------------------------------------------------------------------------- DDH_TE_07 380.25 Canchette 15.07 15.26 0.19 1.906---------------------------------------------------------------------------- 62.07 67.28 0.21 1.252---------------------------------------------------------------------------- 96.69 96.90 0.21 9.713---------------------------------------------------------------------------- 119.25 119.49 0.24 19.74---------------------------------------------------------------------------- 133.46 133.59 0.13 2.744---------------------------------------------------------------------------- 145.89 146.01 0.12 6.136---------------------------------------------------------------------------- 146.88 147.00 0.12 1.926---------------------------------------------------------------------------- 168.76 169.00 0.24 5.964---------------------------------------------------------------------------- 169.29 169.38 0.09 1.473---------------------------------------------------------------------------- 213.06 213.19 0.13 2.10---------------------------------------------------------------------------- 213.19 213.45 0.26 5.353---------------------------------------------------------------------------- DDH_TE_08 330.00 Canchette 31.70 31.85 0.15 1.353---------------------------------------------------------------------------- 44.90 45.00 0.10 1.180---------------------------------------------------------------------------- 53.07 53.19 0.12 2.233---------------------------------------------------------------------------- 90.50 90.69 0.19 2.283---------------------------------------------------------------------------- 93.88 94.12 0.24 1.827---------------------------------------------------------------------------- 121.35 121.50 0.15 4.907---------------------------------------------------------------------------- 137.77 137.98 0.21 4.579---------------------------------------------------------------------------- 195.50 195.80 0.30 3.97---------------------------------------------------------------------------- 213.41 213.54 0.13 3.468----------------------------------------------------------------------------DDH_TE_09 * 604.70 Central 533.44 533.78 0.34 0.416----------------------------------------------------------------------------DDH_TE_10 * 500.20 Central 63.95 64.02 0.07 0.259---------------------------------------------------------------------------- DDH_TE_11 501.25 Central 52.00 52.30 0.30 1.069----------------------------------------------------------------------------* Highest gold value obtained in these drill holes
The gold grades in the above table are uncut and the reported drill core intercept widths do not necessarily reflect the true width of the mineralization encountered.
A systematic resampling program including total metallic screening and re-assaying of high grade intercepts is ongoing. This is in an effort to qualify the suspected nugget effect on chemical assays received thus far.
The company utilizes an industry-standard QA/QC (quality assurance/quality control) program. HQ and NTW diamond drill core is sawn in half with one-half shipped to the ISO certified CIMM Peru S.A. assay laboratory in Lima, Peru for chemical analysis. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance.
Diamond drilling at the Tesoro Gold Project has re-commenced after the Christmas Holidays. Preparation for the arrival of a second diamond drill rig at the project is underway.
"I believe that complete results received from the Phase I drilling at Tesoro will be more representative than the partial results reported here, however, it is important to note that the results so far indicate the system is mineralized to depth," stated President Lori McClenahan.
A Brief History of the Tesoro Gold Project
The Tesoro Gold Project is 100% owned by the Company with no underlying royalties. The Property covers approximately 6,974 hectares (17,436 acres) and is part of the prolific 300km X 30km Nazca-Ocoña gold belt parallel to the Pacific coast of southwestern Peru. The Nazca-Ocoña gold belt has a long mining history dating back to pre-Incan time. Gold is associated with disseminated sulphides that seeped into quartz veins and fractures within the intrusive body. The continuity of the quartz veins and fractures is very impressive in the Nazca-Ocoña belt. While the veins tend to be narrow, the grade is significant and the mineralized structures tend to extend along strike for several kilometers and to depths of up to 1,000 meters.
To date, the Company has identified five mineralized zones with more than 50 quartz veins (having a total combined length of 9km) at the Tesoro Project and has carried out underground exploration and development work on three of these veins (C1, C2 and A4 Veins.) The veins are mesothermal, indicating that the vein structures may extend to considerable depths.
Qualified Person
All technical work is being supervised by, and the contents of this news release have been verified by, Paul D. Gray, P.Geo., who is a "qualified person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada) or contact:
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
Lori McClenahan,
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
Contact:
European Consultant
Michael Kott
CM-Equity AG & Co. KG Financial Service
Tel: 011 4989 1890 474 0
Email: kott@cm-equity.de
U.S. Investor Relations Consultant
Herbert Haft
The Haft Group, Inc.
Tel: (212) 759-8865
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com
News out after the close
St. Elias Mines Ltd. -- 2011 Diamond Drilling Gold Results -- Tesoro Gold Project in Peru
VANCOUVER, BC--(Marketwire -01/10/12)- Lori McClenahan, President, St. Elias Mines Ltd. (TSX-V: SLI.V - News) (Pinksheets: SELSF.PK - News) (US Clearing Symbol: SELSF) (Frankfurt: EKL.F - News) announces gold results from diamond drilling completed at the Tesoro Gold Project in Peru. Eleven Diamond drill holes, totalling 4,374.50m have been completed to date.
Gold values greater that 1000ppb (1 g/t) are as follows:
---------------------------------------------------------------------------- Hole Depth Zones From To Interval Au Hole ID (meters) Tested (meters) (meters) (meters) (ppm)---------------------------------------------------------------------------- DDH_TE_01 241.50 Central 151.45 152.02 0.57 4.144---------------------------------------------------------------------------- 154.71 154.97 0.26 4.551---------------------------------------------------------------------------- DDH_TE_02 250.50 Central 30.80 31.22 0.42 3.432---------------------------------------------------------------------------- DDH_TE_03 350.50 Central 183.26 183.53 0.27 1.441---------------------------------------------------------------------------- 204.79 204.93 0.14 2.974---------------------------------------------------------------------------- DDH_TE_04 576.10 Central 270.66 270.84 0.18 1.148---------------------------------------------------------------------------- 330.69 331.12 0.43 9.438---------------------------------------------------------------------------- DDH_TE_05 301.40 Central 29.33 29.46 0.13 2.074---------------------------------------------------------------------------- 156.88 157.13 0.25 11.64---------------------------------------------------------------------------- DDH_TE_06 338.10 Central 91.60 92.32 0.72 1.508---------------------------------------------------------------------------- 112.26 113.00 0.74 23.50---------------------------------------------------------------------------- 113.32 113.67 0.35 9.582---------------------------------------------------------------------------- 124.70 125.70 1.00 1.051---------------------------------------------------------------------------- 126.70 127.50 0.80 1.594-------------------------------------------------------------------------------------------------------------------------------------------------------- Hole Depth Zones From To Interval Au Hole ID (meters) Tested (meters) (meters) (meters) (ppm)---------------------------------------------------------------------------- 156.09 156.46 0.37 5.089---------------------------------------------------------------------------- DDH_TE_07 380.25 Canchette 15.07 15.26 0.19 1.906---------------------------------------------------------------------------- 62.07 67.28 0.21 1.252---------------------------------------------------------------------------- 96.69 96.90 0.21 9.713---------------------------------------------------------------------------- 119.25 119.49 0.24 19.74---------------------------------------------------------------------------- 133.46 133.59 0.13 2.744---------------------------------------------------------------------------- 145.89 146.01 0.12 6.136---------------------------------------------------------------------------- 146.88 147.00 0.12 1.926---------------------------------------------------------------------------- 168.76 169.00 0.24 5.964---------------------------------------------------------------------------- 169.29 169.38 0.09 1.473---------------------------------------------------------------------------- 213.06 213.19 0.13 2.10---------------------------------------------------------------------------- 213.19 213.45 0.26 5.353---------------------------------------------------------------------------- DDH_TE_08 330.00 Canchette 31.70 31.85 0.15 1.353---------------------------------------------------------------------------- 44.90 45.00 0.10 1.180---------------------------------------------------------------------------- 53.07 53.19 0.12 2.233---------------------------------------------------------------------------- 90.50 90.69 0.19 2.283---------------------------------------------------------------------------- 93.88 94.12 0.24 1.827---------------------------------------------------------------------------- 121.35 121.50 0.15 4.907---------------------------------------------------------------------------- 137.77 137.98 0.21 4.579---------------------------------------------------------------------------- 195.50 195.80 0.30 3.97---------------------------------------------------------------------------- 213.41 213.54 0.13 3.468----------------------------------------------------------------------------DDH_TE_09 * 604.70 Central 533.44 533.78 0.34 0.416----------------------------------------------------------------------------DDH_TE_10 * 500.20 Central 63.95 64.02 0.07 0.259---------------------------------------------------------------------------- DDH_TE_11 501.25 Central 52.00 52.30 0.30 1.069----------------------------------------------------------------------------* Highest gold value obtained in these drill holes
The gold grades in the above table are uncut and the reported drill core intercept widths do not necessarily reflect the true width of the mineralization encountered.
A systematic resampling program including total metallic screening and re-assaying of high grade intercepts is ongoing. This is in an effort to qualify the suspected nugget effect on chemical assays received thus far.
The company utilizes an industry-standard QA/QC (quality assurance/quality control) program. HQ and NTW diamond drill core is sawn in half with one-half shipped to the ISO certified CIMM Peru S.A. assay laboratory in Lima, Peru for chemical analysis. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance.
Diamond drilling at the Tesoro Gold Project has re-commenced after the Christmas Holidays. Preparation for the arrival of a second diamond drill rig at the project is underway.
"I believe that complete results received from the Phase I drilling at Tesoro will be more representative than the partial results reported here, however, it is important to note that the results so far indicate the system is mineralized to depth," stated President Lori McClenahan.
A Brief History of the Tesoro Gold Project
The Tesoro Gold Project is 100% owned by the Company with no underlying royalties. The Property covers approximately 6,974 hectares (17,436 acres) and is part of the prolific 300km X 30km Nazca-Ocoña gold belt parallel to the Pacific coast of southwestern Peru. The Nazca-Ocoña gold belt has a long mining history dating back to pre-Incan time. Gold is associated with disseminated sulphides that seeped into quartz veins and fractures within the intrusive body. The continuity of the quartz veins and fractures is very impressive in the Nazca-Ocoña belt. While the veins tend to be narrow, the grade is significant and the mineralized structures tend to extend along strike for several kilometers and to depths of up to 1,000 meters.
To date, the Company has identified five mineralized zones with more than 50 quartz veins (having a total combined length of 9km) at the Tesoro Project and has carried out underground exploration and development work on three of these veins (C1, C2 and A4 Veins.) The veins are mesothermal, indicating that the vein structures may extend to considerable depths.
Qualified Person
All technical work is being supervised by, and the contents of this news release have been verified by, Paul D. Gray, P.Geo., who is a "qualified person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada) or contact:
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
Lori McClenahan,
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
Contact:
European Consultant
Michael Kott
CM-Equity AG & Co. KG Financial Service
Tel: 011 4989 1890 474 0
Email: kott@cm-equity.de
U.S. Investor Relations Consultant
Herbert Haft
The Haft Group, Inc.
Tel: (212) 759-8865
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com
Ahhhhhhhhhh. The decline that confirms that tradng is always best. Say, Calvin, to what do you attribute this wonderful swoon in St. Elias?
And, no, I am not in.
Conix, nothing wrong with trading. I do it myself. I always hold a core position with companies I believe in though. I trust you do the same. I do adjust the core depending on how much I like the company. I like St. Elias more now than I have in a long time. It has dipped with the sector. I dont believe the sector will continue down. I expect spot prices to shortly exceed their previous highs. This will effect the juniors exponentially IMHO.
Thanks for worrying about me. Got back in at the 200 DMA. That is what I do. Trade.
I hope your back in.
If not I hope you loose out..
JMHO...
Mr. Hobbes
Sweet! Whenever you trade, you always "worry" that you got out too soon. But my skepticism is keeping my periodic trading profitable.
And it is right on the 200 DMA --hold this for a day or two and it may be rebuy time.
I have to admit, Calvin. SELSF or SLI.v has been really good to me with the trading. I am not doing things perfectly, but my healthy dose of skepticism does allow me to take profits.
St. Elias Mines Ltd. -- Corporate Update
Press Release Source: St. Elias Mines Ltd. On Wednesday October 19, 2011, 3:48 pm EDT
VANCOUVER, BC--(Marketwire -10/19/11)- Lori McClenahan, President of St. Elias Mines Ltd. (the "Company") (TSX-V: SLI.V - News) (Frankfurt: EKL.F - News) (Pinksheets: SELSF.PK - News), announced today the following corporate update:
The Company in the process of a 10,000m drilling program at the Tesoro Gold Project in southwestern Peru. The initial portion of the drilling program has been designed to test near-surface targets identified by the Titan 24 Geophysical Survey conducted at the Tesoro Gold Project. Results will be announced once they are received and compiled.
St. Elias recently completed a $4,500,000 private placement giving the Company approximately $9,200,000 in the treasury. St. Elias is well-positioned to weather the current market conditions and continue with the advancement of our existing gold projects.
I listened again. That video seemed more interested in how a woman got involved in the "Old Boy's Club" of mining. SELSF was more of a sideshow--with no details.
The only thing I got out of it is now I know what Laurie looks like.
Watch the last 1:30 seconds again!
Forbes Video on St. Elias Mines CEO. Wish it said more about the company than about the CEO's past as a broker.
http://video.forbes.com/fvn/inidaily/lori-mcclenahan-st-elias-mines-secrets-of-the-self-made?partner=yahootix
http://www.proactiveinvestors.com/companies/news/18382/tsx-v-news-mkango-resources-st-elias-mines-northern-superior-resources-plato-gold-western-energy-18382.html
Gold explorer St. Elias Mines (CVE:SLI) reported on Wednesday that it has launched a new corporate website.
The new site offers a "user friendly" configuration that allows investors and interested parties to view corporate and property information. Also available are technical reports for the company’s projects.
Mr. Hobbes
NEW WEBSITE UP. http://steliasmines.com/
Nice. I know I dont post here much, but I do read the board. I guess I have too many concerns elsewhere right now.
News look closely I did and now am even happier.
Only one of six new claims are optioned out! so we really only give up less than 20% (16.6% of new claims) but still get 40% ownership even if the option agreement is met.As well we still get 1.5% royaltys for life. for all this.....
NEWS RELEASE St. Elias Mines Ltd. – Options Strategic Claim Adjoining Tesoro to IntigoldVancouver, B.C. August 31, 2011 Lori McClenahan, President and Chief Executive Officer, St. Elias Mines Ltd. (SLI - TSX:V) and Intigold Mines Ltd. (IGD – TSX:V), announces today that St. Elias has entered into an option agreement with IntiGold Mines Ltd. (“IntiGold”) whereby IntiGold can earn a 60% interest in the Chance E mineral concession (the “Chance E Claim”) which adjoins St. Elias’ wholly-owned Tesoro Gold Project located in southwestern Peru. Chance E ClaimThe Chance E Claim is a strategic claim that adjoins the southern end of the Tesoro Gold Projectwhere St. Elias is currently drilling to delineate gold resources. The Tesoro Gold Project has demonstrated the potential for a "world class" gold discovery. Geological information, together with Titan 24 geophysical data and satellite imagery, confirms that structural lineaments which are coincident with gold mineralization on Tesoro Project extend onto the Chance E Claim.
The initial exploration program on the Chance E Claim will consist of, but is not limited to, th interpretation of satellite imagery acquired to exact specifications and geological mapping and sampling. The program is scheduled to commence immediately.Option AgreementUnder the terms of the option agreement, IntiGold can acquire a 60% interest in the Chance E Claim (subject to a 1.5% NSR) in consideration of making cash payments of $500,000 to St. Elias, issuing 1,000,000 common shares in the capital of IntiGold to St. Elias and incurring $1,000,000 in exploration expenditures on the property over a three-year period.IntiGold's first year commitment under the option agreement is to pay $25,000 to St. Elias and incur $200,000 in exploration expenditures on the property.
News Release 2010-39 October 12, 2010
NEWS RELEASE
St. Elias Mines Ltd. Acquires Strategic Claims Adjoining Tesoro Gold Project, Peru Vancouver, B.C. October 12, 2010 Lori McClenahan, President of St. Elias Mines Ltd. (SLI – TSX:V) (“St. Elias” or the ``Company``), is pleased to announce that the Company has acquired six strategic mineral claims (the "New Tesoro Claims") surrounding its existing Tesoro Gold Project (the "Property")located in southwestern Peru. New Tesoro Claims Exploration results to date have shown the Tesoro Gold Project to be permissive for the expansion of known gold mineralized zones both on strike and to depth as well as the discovery of additional gold mineralization. In that regard, the Company has staked six New Tesoro Claims (Chance A, B, C, D, E and F) surrounding its existing Tesoro Gold Project.
Prior to the acquisition of the New Claims, the Tesoro Project comprised three mineral claims (Chance 1, Chance 2 and Chance 5) covering approximately 5,000 acres. With the addition of the New Tesoro Claims, the Tesoro Gold Project covers17,436 acres. ``We are very pleased with the acquisition of these additional claims. It is a natural evolution of the Project to acquire these strategic claims considering the exploration results received to date`` stated Lori McClenahan, President of the Company.
Tesoro Gold Project, Peru The Tesoro Gold Project, consisting of nine mineral claims covering 17,436 acres, is located in the Department of Arequipa in the District of Acari in southwestern Peru. The Property is 100% owned by the Company with no underlying royalties. The Property lies within the well-known 300 km X 30 km Nazca-Ocoña gold belt adjacent to and paralleling the Pacific coast of southwestern Peru. The Nazca-Ocoña gold belt has a long mining history dating back to pre-Incan time with more than 70 gold (± copper) deposits have been discovered and exploited since the 17th century, most of which are quartz-vein hosted gold deposits. The Tesoro Property can be defined as an advanced stage gold exploration target that hosts several historic gold showings and gold workings. The style of mineralization represents a mesothermal vein exploration target. To date, mesothermal-vein style gold mineralization has been identified superficially and to depths of over 100 metres. The Tesoro Property has never been evaluated to depth, or to its full strike potential. This leaves a large potential for the discovery of additional mineralization.
God Bless All
Mr. Hobbes.
Got ya. I understand your line of reasoning, and if it is totally out of like I would also be concerned. I dont think it will be, but that remains to be determined. I am still optimistic.
I would usually agree with you --if they paid for that SKIN in the game. Getting more skin for free will not make me happy.
You may think I am crazy, but that is what I am hoping. More skin in the game usually results in more care.
It will be interesting to see how many shares management will have of the spinoff. Something tells me they will not see the same 20 for 1 haircut like we will.
Mark my words--they will have a greater percentage ownership of in the spinoff than they did in SLI.v/SELSF.
I hope I am wrong.
Conix, I had seen this release, but have been crazy busy and have not had time to study and digest it. Depending on the share structure of the new company the 1 share per 20 could be good or bad. Knowing what i do about management of SLI/SELSF I think it will turn out well for shareholders though.
St. Elias Mines Ltd. Announces Spinout Transaction to Create New Company
VANCOUVER, British Columbia, Aug. 23, 2011 /PRNewswire/ -- Lori McClenahan, President and CEO of St. Elias Mines Ltd. (SLI - TSX:V), announces today that St. Elias intends to undertake a spinout transaction ("Plan of Arrangement") to reorganize its share capital to create two new public companies, one of which will hold all of St. Elias' Peruvian properties and the other which will hold all of St. Elias' British Columbia properties.
Under the terms of the proposed transaction, St. Elias will transfer 100% of its interest in all of its British Columbia mineral properties to Havilah Mines Ltd. ("Havilah"), a new company incorporated for the purpose of facilitating the Plan of Arrangement. St. Elias will retain 100% of its interest in all of its Peruvian gold properties. St. Elias will not have any change in its capitalization. Application will also be made to list the common shares of Havilah on the TSX Venture Exchange (the "Exchange").
Under the proposed Plan of Arrangement, the current shareholders of St. Elias will continue to participate in the exploration and development of St. Elias' Peruvian gold properties but will also participate in the exploration of a strategic group of British Columbia properties.
St. Elias shareholders will be entitled to receive one common share of Havilah for every 20 common shares of St. Elias held as of the effective date of the Plan of Arrangement. No St. Elias options or warrants will entitle the holders to receive any shares or other convertible securities of Havilah, except to the extent such holders exercise such options or warrants, as the case may be, to acquire common shares of St. Elias prior to the effective date of the Plan of Arrangement. There will be no change in shareholders' holdings in St. Elias as a result of the Plan of Arrangement.
The Board of Directors of St. Elias believes that the creation of two separate public companies dedicated to the pursuit of their respective businesses will focus the efforts of each company and provide St. Elias shareholders with additional investment choices and enhanced flexibility.
In arriving at their decision, the Board of Directors considered, among other matters:
* the conclusions of management of St. Elias with respect to the prospects of an increase in shareholder value;
* the terms of the Plan of Arrangement, which:
o will allow Havilah to focus on financing and developing the British Columbia mineral properties separately from St. Elias' Peruvian gold properties, while reducing stock dilution for shareholders interested in St. Elias' Peruvian interests; and
o will result in each St. Elias shareholder continuing to own their existing St. Elias shareholdings but will also own shares of Havilah.
The proposed Plan of Arrangement is subject to Exchange, regulatory, court and shareholder approval. Additional details of the proposed arrangement will follow upon completion of definitive documentation and will be described in detail in the information circular to be mailed to shareholders of St. Elias in connection with the Company's 2011 Annual General and Special Meeting at which approval by St. Elias' shareholders of the proposed Plan of Arrangement will be sought.
"Management and board of directors of St. Elias believe that the current market price of the Company's shares does not adequately reflect the underlying value of its British Columbia mineral properties. The proposed spinout is an excellent opportunity for shareholders to maximize the value of their St. Elias holdings," stated Lori McClenahan, President and CEO of St. Elias.
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call
1-888-895-5522 (toll free US and Canada)
Great news. Thanks. I always knew it would come to be. I will be attempting to accumulate a little more.
St. Elias Mines Ltd. - Diamond Drilling Commences - Tesoro Gold Project in Peru
VANCOUVER, British Columbia, Aug. 17, 2011 /PRNewswire/ -- Lori McClenahan, President and CEO of St. Elias Mines Ltd. (SLI - TSX:V), announced today that diamond drilling has commenced at the Tesoro Gold Project in Peru. The 10,000-metre drilling program has been designed to test near-surface and deeper-seated geophysical anomalies identified by Titan 24 geophysical surveys.
The Company has engaged the Peruvian subsidiary of Energold Drilling Corp. to conduct the initial portion of the drilling program to test the near-surface targets. An additional diamond drill rig, with a deeper drill capacity, is slated to commence drilling in October, 2011 to test the deeper-seated targets.
The initial series of drill holes will test the "Zona Central IP Anomaly" in the A4, A5, A7 and A8 vein areas of Zona Central. The drill holes will test high-priority drill targets identified by Titan 24 geophysical surveys and the down-dip extensions of known gold mineralization.
The Zona Central IP anomaly, located beneath Zona Central, is a chargeability anomaly that measures >16 milliradians ("pink"). The anomaly is a bowl-shaped feature measuring approximately 1,800 metres by 1,700 metres by 1,300 metres. There are northwest-southeast lineaments (faults or structures) associated with this anomaly that are coincident with known mineralized structural trends on the Tesoro Property. Within the large IP anomaly there is a zone of higher chargeability that measures >18.5 milliradians ("red") that is oriented in a north-south direction. The centre of the southern end of the "red" chargeability anomaly is 600 metres below surface. Three-dimensional images of this anomaly are available on the Company's website "www.steliasmines.com" (pink and red colours correspond to chargeability anomalies of > 16 and > 18.5 milliradians respectively).
The Zona Central IP anomaly is located at the centre of a number of cross-cutting structures and may be the source of the near-surface gold mineralization found in the Zona Canchete, Zona Este and Zona Central.
A Brief History of the Tesoro Gold Project
The Tesoro Gold Project is 100% owned by the Company with no underlying royalties. The property covers approximately 6,974 hectares (17,436 acres) and is part of the prolific 300km X 30km Nazca-Ocona gold belt parallel to the Pacific coast of southwestern Peru. The Nazca-Ocona gold belt has a long mining history dating back to pre-Incan time. Gold is associated with disseminated sulphides in quartz veins and fractures within intrusive rocks. The continuity of the quartz veins and fractures is very impressive in the Nazca-Ocona belt. While the veins tend to be narrow, the grade is significant and the mineralized structures tend to extend along strike for several kilometers and to depths of up to 1,000 meters.
To date, the Company has identified five mineralized zones with more than 50 quartz veins (having a total combined length of 9km) at the Tesoro Project and has carried out underground exploration and development work on three of these veins (C1, C2 and A4 Veins.) The veins are mesothermal, indicating that the vein structures may extend to considerable depths.
The Tesoro Property has never been evaluated to depth, or to its full strike potential. This leaves a large potential for the discovery of additional mineralization.
Private Placement
The Company has negotiated a non-brokered private placement of up to 2,500,000 units at a price of $1.80 per unit raising gross proceeds of up to $4,500,000. Each unit will consist of one common share and one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional common share at a price of $2.10 per share for a period of 12 months from closing. The private placement is subject to regulatory acceptance.
The Company will pay finder's fees of up to 8% of the gross proceeds raised, payable in cash or common shares or a combination.
The proceeds of the private placement will be used for exploration expenditures on the Company's properties and for general working capital.
Qualified Person
All technical work is being supervised by, and the contents of this news release have been verified by, John Brophy, P.Geo., a Canadian geologist residing in Peru, who is a "qualified person" as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
For additional information on St. Elias and its projects, please visit us at www.steliasmines.com or call 1-888-895-5522 (toll free US and Canada) or contact:
European Consultant
U.S. Investor Relations Consultant
Michael Kott
Herbert Haft
CM-Equity AG & Co. KG Financial Service
The Haft Group, Inc.
Tel: 011 4989 1890 474 0
Tel: (212) 759-8865
Email: kott@cm-equity.de
Email: herbhaft@haftgroupinc.com
herbhaft@aol.com
ST. ELIAS MINES LTD.
(signed "Lori McClenahan")
Lori McClenahan,
President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this document.
This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
Trading Symbol: SLI (TSX Venture Exchange)
EKL (Frankfurt Exchange)
SELSF (U.S. Clearing Symbol)
Ahhh...guess what? More news on SLI.v--but no news on SELSF. They really do not get it do they? Get the Press Releases on the SELSF Yahoo Finance page, guys. MAKE BELIEVE that you want US investors to know what is going on.
And do not tell me that it is up to the US investors to check SLI.v.
They went through the trouble of getting listed on the US OTCBB, so do the next step and get those press releases to appear under the SELSF symbol!
Got more order filled on Monday. We have a bit of a gap at 1.92 on the chart, but that may not be significant with all this volatility.
You are not kidding. Kind of funny. I lost my ass but was happy to do so. Picked up some real bargains.
Never thought my very low GTC order to rebuy would look possible so soon. But Friday's trading was pretty unique.
There you go. Nothing wrong with trading. What ever it takes to make money. I would hold a core though. It is easy to get frustrated. Good luck in what ever you do.
Just frustrating...but I really should not complain. It is BECAUSE I think SELSF does not know what it is doing to attract more investors that I TRADE it and do not just hold it.
I have been in an out of SELSF 8 times over the past 18 months and havetraded it pretty good. In a way, LOL, I should thank Management for making my decision easier to trade than to "trust".
Good Luck to you.
Oh, and I dont remember saying that it would not effect short term valuation. Please dont put words in my mouth if that is what you meant. As far as long term, NO it will not.
Ok, you have every right to disagree. My point is while I am not happy with the way they are handling things, I have seen it before. I have had good profits from the same habits. Takes a little longer. Hey, to each his own.
I disagree that it would not effect valuations. Would you not agree that valuations are derived from supply and demand for shares? If so, more demand overcoming supply translates into a higher price.
Where do you attract more demand for shares? By releasing news to MORE potential investors. That is helped, I am sure you would agree, by making it EASIER for US investors to obtain the news on a US Listed stock--which, in this case, is SELSF.
St. Elias pays BIG bucks to have three investor relations contacts--BIG bucks. And yet, none of these professionals have thought of insisting that the company spend $250 more per PR to attract these US investors.
I agree that other Canadian companies ignore this easily corrected problem. But it should not be a "problem" if the managements would take the ten minutes to set it up.
I know for a fact that Laurie knows of this easy correction. And I have spoken with two of the IR people about it too. They always are nice and say they will tell the company. These conversations were one year ago---Pathetic.
I as a shareholder want them to succeed, but I also want them to appear to be interested in the stock price going up by distributing legitimate information in Press Releases to as many in the investment world as possible.
Not picking "the low hanging fruit" like I have proposed here and many other times leads me to believe that SELSF's management is not as savvy as we would like to believe.
Just do it! And be done with it. No more excuses or delays. ALL SLI.V and SELSF press releases should be listed on the Yahoo Finance pages for BOTH symbols.
And good luck to you, wshaw.
Conix, this is a common problem. I have others also that do not do so. I agree that it would be nice if they did, but will not effect the long term valuation. I probably would not have gotten in at the prices I did on those stocks if they had. Just have to be a little more patient on those. Word will get out.
SELSF/SLI.v is an unknown gem because the CEO does not do the basics.
It is basic to get the press releases posted on Yahoo Finance and other US investors sites. There is NO EXCUSE--NONE--for "management" to NOT pay $250 to release PR under SELSF instead of just the Canadian PR service they use.
Laura has no one to blame but herself--because she has been told this before by their investor relations people. Is she just lazy? Short attention span? Why has she not tried to attract any interest by US investors in her commpany? WHY? Afraid of scrutiny by US investors? Come on! There is no excuse.
As a shareholder, I am ticked that they do not try to build awareness by something as simple and inexpensive as getting PR distributed to all the sites with BOTH symbols. They pay alot of money for investor relations for Europe, investor relations for big accounts, shareholder relations with Murray, IR for Canada etc. They have more resources in IR than they have in the field!!! But for some reason ALL these consultants cannot convince the CEO to do something basic and could have a significant impact in building trading volume and a broader shareholder base.
Murray--tell her again. Investors are getting sick of these swings when the problem is really from a VERY limited shareholder audience that pile in and pile out. SELSF/SLI.v needs to broaden their shareholder database by getting NEW investors in--and Laura and her crew have ignored this basic move for too long.
Tell her again. There should be the same amount of press releases under the symbol "SELSF" as there is under "SLI.v". Most US investors use Yahoo Finance. You know it and I know it.
What makes "management" NOT know it?
So then 73 717 948 X $150 / Oz = 11 057 692 200 11 billion dollarsSSSSSSSS.
I believe $150/ oz is low....
11 057 692 200 divide by number of shares. I believe it would be about 118 million with new options included. I like to use a higher number of shares for fun.... 130 000 000 .
11 057 692 200 / 130 000 000 = $85.06 on 1 gr of gold average.
Imagine 10 GRs our average in total I believe is about .80 oz not grams...
$850.60 per share......
KNOW WHAT YOU OWN......
Mr. Hobbes
73 717 948 oz GOLD if there is 1 GR/ TON in GIANT Anomaly 1300M X 1700M X 1800M
Here is why you can get excited!
Tesoro Historical Assay Numbers
Historical results of assays from sampling at the Tesoro Gold Project: Here is a quick breakdown of the numbers coming out of the Tesoro project from news releases over the last 4 to 5 years. Talk about consistent and impressive numbers. Hard to find better numbers anywhere. This is only one of many reasons why this may become a World Class Gold Property.
Hogtown
December 12, 2005 TESORO GOLD PROJECT, PERU Underground Sampling - Averagegrade at 40m-level 1.36 oz/ton Gold
January 30, 2006 TESORO GOLD PROJECT, PERU 1.56 oz/ton Gold -Average Gold Grade of Initial 53.7 Tonne Bulk Sample
August 23, 2006 TESOROGOLD PROJECT, PERU 0.88 oz/ton Gold - Average Gold Gradeof 67.1 Tonne Bulk Sample
September 14, 2006 TESOROGOLD PROJECT, PERU Underground Face Sample Results Include a 7m Vein Segment of3.73 opt Au and 60m Vein Segment of 1.48 opt Au (including16m of 2.75 oz/t)
January 31, 2007 TESORO GOLD PROJECT, PERU 0.76 oz/ton Gold - Average Gold Grade of 112.5 TonneBulk Sample
March 27, 2007 TESORO GOLD PROJECT, PERU Underground Exploration Discovers High-Grade Gold at Zona Central Lori McClenahan,President of St. Elias Mines Ltd. (the “Company”), is pleased to announce thediscovery of high-grade gold on the A-4 Vein System within the Zona Centralarea of the Tesoro Gold Project {the “Property”) located in southwestern Peru.Channel sample results from the 12-m level of the A-4 shaft include 1.0m of71.6g/t Au (2.08 oz/t) and 60cm of 33.2g/t Au (0.97 oz/t). The discovery wasmade as a result of cleaning out a short, rubble-filled shaft. The Company hassubsequently deepened this shaft from approximately 7m to 35m (115 feet).
April 17, 2007 TESORO GOLD PROJECT, PERU 17.24 oz/t Gold at Zona Central
July 17, 2007 HIGH GRADE GOLD POCKETS ENCOUNTERED AT TESORO GOLDPROJECT, PERU Lori McClenahan, President of St. Elias Mines Ltd.(the “Company”), is pleased to announce that an additional 157.4 tonnes of bulk sample material hasbeen processed and has returned an average grade of 0.93 oz/t gold including 4.1 tonnes of 11.22 oz/t.These samples were obtained from development material taken from the ZCV#1 Vein on Zona Canchete and the A4 Vein System on Zona Central at the Tesoro Gold Project (the “Property”) in southern Peru and are part of the Company’s ongoing underground exploration and development program. Included in this tonnage processed were anadditional 24.1 tonnes of bulk sample material which returnedan average gradeof 0.84 oz/t gold from the Zona Canchete.
January 31, 2008 TESORO GOLD PROJECT, PERU - Bulk Sample BatchesReturn Grades of 0.79 oz/t, 0.99 oz/t and 0.34 oz/t Gold
February 17, 2009 TESORO GOLD PROJECT, PERU - Bulk Sample Batches Return AverageGrade of 0.94 oz/t Gold
September 1, 2009 TESORO GOLD PROJECT, PERU - Bulk Sample Batches Return AverageGrade of 0.92 oz/t Gold
November 12, 2009 TESORO GOLD PROJECT, PERU - First Ever Bulk Sample Taken from C2Vein Returns Average Grade of 5.84 oz/t(182 g/t) Gold
December 23, 2009 TESORO GOLD PROJECT, PERU - Bulk Sample Takenfrom C2 Vein Returns Average Grade of 2.02 oz/t (62.83 g/t) Gold
February 3, 2010 TESORO GOLD PROJECT, PERU Bulk Sample Returns Average Grade of3.74 oz/t Gold and Initial Trenching Results SuggestPotential for Disseminated Gold
I have been in this stock since 2006, I am quite blessed in how I found this stock. My friend was a neighbor with Murray from IR. I did not know anything about the stock market. I only knew that the price of GOLD was going up. I also knew what I read of the news releases. Such as samples of oz / ton of rock...
The story has gotten much better since then. The FACTS are getting stronger.
THIS CALCULATION WAS GIVEN TO ME FROM
Murry Braucht, Director and Vice President of the Company, brings over 30 years of business and corporate experience to the Company from his background in the oil and gas industry. Mr. Braucht has been instrumental in bringing opportunities and financings to the Company.
In this one anomaly just below the Zona central has calculations of
1000 x 1000 x 1000 = 1 000 000 000 cubic M. X 2.3 tons in cubic metre. 2 300 000 000 tons
1 gr / ton in each ton =
2 300 000 000 / 31.2 = 73 717 948 oz GOLD
So if one GRAM PER TON OF ROCK on average, you get,no word of a lie = 73 7717 948 million OZ on just one GRAM.....there are 10 anomalies found by QUANTEC SURVEY.
http://www.quantecgeoscience.com/Tech/Titan24.php
QUANTEC SURVEY- Titan 24 Deep Earth Imaging – Leading in Deep Exploration
Titan 24 Magnetotellurics (MT) and IP / Resistivity (DCIP) is the leading deep search ground geophysical method worldwide. In mineral exploration (grassroots exploration and brownfields exploration), the system images conductive mineralization, disseminated mineralization, alteration, structure and geology to 700 m and beyond for reliable and cost-effective targeting of drill holes to depth. In a brownfields environment, Titan 24 is effective for both minesite exploration and near mine exploration, and has been used to find new ore both in mines and nearby. Case histories for both Titan 24 grassroots exploration and brownfields exploration are available on this site or on request through info@QuantecGeoscience.com.
Titan 24 is also applicable for other applications which require significant depths of penetration, such as geothermal investigations.
The result of a four-year effort to develop advanced tools for very precise and deep subsurface information, the array based Titan 24 Deep Earth Imaging system is the most advanced electrical earth imaging technology to date. Based on best practices found in the oil and gas industry, the system has been designed to meet the needs of a variety of stakeholders in mining exploration and to serve as a tool in making key property evaluation decisions.
Measuring the parameters of DC (resistivity), IP (chargeability) and MT (magnetotelluric resistivity), Titan 24 measures to depths of 750 meters with IP and can explore beyond 1.5 kilometers with MT data. These depths and multi-parameter data make the system the best option available for obtaining subsurface pre-drilling information related to geologic structure and for the direct detection of mineral deposits any where in the world.
Measuring multifold full waveform data and sophisticated digital signal processing, Titan 24 can highlight subtle features through thick cultural overburden, making it an important tool for investigation where the effectiveness of traditional methods has been limited. The system provides a strategic advantage at grass roots stages and also allows for the reassessment of many areas covered previously by less sophisticated exploration methods in and around established mining grounds. Titan 24 systems are proven to be effective in many geologic and physical environments.
Applications
Gold
Massive Sulphides
Penetration of thick overburden
Focus deep drilling
Grassroots
Deep Regional Earth studies
Structural information
Brown ground discovery including highly cultured areas such as existing mine sites
How it Works
Titan employs distributed array technology for data acquisition pioneered in the oil and gas industry. By measuring 24 or more stations simultaneously, Titan is able to efficiently record and process a vast amount of data. By sampling more data, faster and simultaneously, it provides increased reliability and accuracy of information compared to other methods. The method also employs a larger array (generally a 2400 metre spread), delivering much deeper capability than traditional means and airborne methods.
Attributes of the Titan 24 System
Distributed Acquisition System
High Multiplicity Source Receiver Data Sets
24bit Sigma Delta Time Series Waveform Data
Broadband D.C. to .01 Hz
Telluric Cancellation
Deconvolution of Input Waveforms
Multiparameter: D.C. Resistivity, IP, AMT, and MT
Rapid Data Collection
Fast Interpretation
Time will let everyone find this GEM... But will it be a household word already by then.....
Mr. Hobbes
I could not agree more. Well worth spending 2,3, or 4 hours reading up on if you are looking into becoming a stockholder.
Thanks, yes, I have been watching. I like what I am seeing
Not alot of overhang once it held the 200 Day Moving Average. Chart is looking constructive for the first time in weeks.
The PPS will take a major dip tomorrow. How do I know this? Because I bought in today, lol.
43-101 technical report
ALL IMPORTANT SLI SEC reports / finacial statements are under the SEDAR
Search the data base at sedar for "St. Elias Mines Ltd." ,October 20 2010, technical report 43-101 . It takes about 10 minutes to download as it is an extremely large file.
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00008069
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