Searchlight Resources Inc (SCLTF)

[Mr. Zen]

True to form of any Investor Relations "professional" they can sound positive on the phone and have a way with verbiage that states positive tones while saying nothing. Basically this company is in idle mode with the engine running, the principles are not taking a salary and the office space is covered under the sister company... that being said the climate for raising money right now is dead calm, many miners are either going under or changing venues, Canyon Copper has the ability to maintain without a high monthly burn rate but that does not help us out during this downturn in copper prices and the complete lack of interest in the mining sector by anyone with the wherewith-all to finance a drill program.
My personal conclusion here after talking to IR is that this is dead money until next spring unless a J/V partner trips over the doormat, miners always do things at their own pace and we could be pleasantly surprised however odds are that the ore they have claim to, is sitting in the ground for the short term and the resource will not be developed this year. This is the season for drilling and there is no drill program coordinated. Wish I could be more positive, the only thing I can say is the share price will return in it's own time and if I end up with a windfall this winter I may add to the pot to lower the average with an eye for profits next spring.