Replies to post #4741 on Searchlight Resources Inc (SCLTF)

[Belgianshareholder]

CANT... :-)

I'm not selling until I see news...

[032798]

spj,

The penny market sucks.....generally.

As for cnycf. What happened to the billions and billions of cu in the ground? They made it sound like it was a "no brainer". Oh, and don't forget about the people called "idiots" for selling cnyc when it was much higher. Even though I hate to lose money. I am at least glad to see the pumping silenced........at least it is for now.

03

[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.

[Belgianshareholder]

CNYCF - 10K out

On January 24, 2013, the Company entered into an agreement (the “Agreement”) with Sandfield Resources Ltd. (“Sandfield”) and Sandfield Resources (USA) Inc. whereby the Company has agreed to transfer to Sandfield up to a 70% interest in its optioned Moonlight Property. Under the terms of the Agreement, Sandfield will earn a 60% interest in the Moonlight Property (the “Initial Interest”) upon:


(i)
paying the Company $125,000 on TSX Venture Exchange approval of the Agreement (received);


(ii)
issuing the Company 500,000 common shares on the date Sandfield lists its common shares on the TSX Venture Exchange;


(iii)
incurring $100,000 of exploration expenditures on or before May 31, 2013 (completed);


(iv)
paying the Company $125,000 and incurring an additional $500,000 of exploration expenditures by the second anniversary of the Agreement; and


(v)
paying the Company $125,000, issuing the Company 2,500,000 common shares and incurring an additional $1,000,000 of exploration expenditures by the third anniversary of the Agreement.

Sandfield will be able to earn an additional 10% interest in the Moonlight Property (the “Secondary Interest”) by issuing the Company 2,500,000 common shares and incurring an additional $3,000,000 of exploration expenditures by the fifth anniversary of the Agreement. Sandfield will also be responsible for all payments and share issuances required by the underlying option and assignment agreements and paying all BLM claim maintenance fees (Note 3(f)).

If Sandfield exercises the Initial Interest, the Company and Sandfield will form a joint venture for the purpose of carrying out further exploration and development of the Moonlight Property.