Searchlight Minerals Corp. (SRCH)

[gitreal]

I appreciate the warning, but see no reason to be careful about my thoughts regarding the slag. I will say it very bluntly - I believe there is very little gold in the slag, and I believe there is major fraud involved with SRCH's claims regarding the value of the slag.

Any company that is so careful to never, ever release any kind of actual report about their findings is surely perpetrating fraud. Why people invest based on PRs alone is beyond me, unless they are purely playing the bounces in pricing and do not care if it is a fraud or not.

The geology, mineralogy and grades of the ores processed at the Clarkdale smelter are well documented. The ores never averaged gold values anywhere near what SRCH is now claiming are in the slag. Compared to the half oz. per ton gold that SRCH is claiming are in the slags, the ores averaged maybe a tenth of that at best. Even if Phelps Dodge left ALL the gold in the slag (which I highly doubt), it is not even close to justifying what SRCH is claiming. It makes no sense whatsoever.

I have no fear in saying that SRCH's pile of slag at Clarkdale is a fraud and a scam, based on a bunch of lies from folks with a long history of documented scams. Whether it is criminal or not, that is up to the SEC and whatever court(s) it ends up in.

Make what money you can from SRCH, but it will not be from them ever producing gold.