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Message: Selling Cueva Blanca without shareholder approval?

Here below is an old post of mine that is related.

from questions/answers on SLI website

posted on Oct 09, 12 04:32AMUse the IP Check tool[?]

I see this question asked on the SLI website;

/ Internet poster "Sculpin" had indicated that there was 150K ounces of gold on the Cueva Blanca property. I was wondering if you could verify this information for me? Thanks

SLI Reply;

There are no 43-101 compliant resource calculations completed on the project

http://steliasmines.com/questions/sculpin/

Although there may not be a compliant up to date 43-101, there appears to be a tech report filed in 2002 on the property which carries this statement on page one of the report;

Reporting form 43-101F1, BC and Yukon Chamber of Mines, Standards of Disclosure
for Mineral Projects.

I understand that all reports under the 43-101F1 before 2005 may have been recinded, but at least they could have mentioned the old tech report for some property info?

http://www.bcsc.bc.ca/policy.aspx?id=2886&cat=4%20-%20Distribution%20Requirements&

Also, in this same report, derives the statement on page 39;

Sivertz’s (1999) reserve calculations on the Cruz Vein System reasonably suggests
that there are at least 190,000 ounces of gold to a vertical depth of about 90m in the
drilled and trenched portion of the Cruz Lineament.

Also on page 37, this;

SECTION 19: MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES

In an internal report for St. Elias Mines Ltd. by Sivertz (1999), an inferred mineral
resource for the Cruz Vein System was calculated at 2.3 to 2.8 million tonnes
containing 154,000 to 190,000 ounces of gold and 945,000 ounces of silver. These
figures were calculated to a depth of about 90 meters below surface using a cut-off
grade of 0.5 g/t gold and 15.0 g/t silver. At current gold and silver prices, the value
of this inferred resource is about $US 62 million. Data for the calculations were
based on assay results from 91 trenches and 18 diamond drill holes totaling 1,860
meters. The author has reviewed the calculations done by Sivertz and is satisfied
that reasonable care was taken and sufficent data available to support the
tonnages and grades reported as inferred mineral resource. The data and
calculations used for the estimates are included in Appendix 10.

So as you can see, the company believed the CB property had 190k ounces of gold, but did not elaborate, and left the reader possibly thinking that sculpin was wrong or that the property may have nothing worth mentioning. IMO, this could have a degrading effect on our sp if the reader was not aware of the info I just posted. Also, the inquisitor is neglected the opportunity to realize the 945,000 ounces of silver.

https://docs.google.com/file/d/0B-hwvUB-zjR1NDFLdTNPbnU2SUE/edit?pli=1

IMO

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