Pat66: " I do agree Imerc23 brings non-bashing, good arguments but like I said (JMO) on SH: I'm not an expert, and I will not pretend to be, but I no one thing is sure, ES, EE and David certainly are.

Elmer's Powerpoint presentation covers all your arguments and insider purchases seem to also agree with Elmer's presentation.

All these points were also very much covered by Vette and many others.

Stifel was(is) buying, and other institutions are getting in lately.

The shorts have covered; I assume that people are not willing to play with fire anymore.

ES promised a higher grade, lower APEX, so why argue? Shouldn't he know better than us? Hasn't Tech's Senior people not been working with ES every step of the way til the BFS? Are the insiders just throwing money into a deep pit? I don't think so.

JMO

Pat. I think we are saying two different things. Elmer is trying to "cover all of [the] arguments". We have not officially got there yet. As smart and lucky as we hope Elmer to be, he can only work with what is there. I think he will find a good starter pit. How good that starter pit depends on the characteristics of that part of our ore body (depth, grade, size & waste) and production (Capex and income). We can only do so much to work with what is there.

I don't have a doubt that the BFS will have a positive NPV as per the Teck agreement. The BFS need only show a positive return of $1 to trigger the 120 day Teck has to decide. The BFS needs to be much better than $1 NPV in order to attract the attention of other buyers for the remaining portion of SC after earn-in.

Our BFS needs to compete with all of the other green field projects out there with good NPV/IRR and weighed against strategic factors like political jurisdiction, environmental risk, and the life of the mine (longer is better with two projects with equal NPV). IMHO, SC scores A+ with respect to the life of the mine, political and environmental risk. We seem to be looking better and better every day with the recent events in South America regarding national interests in resource extraction.

I dont' see Stifel buying like it was this spring. That could mean that this person/entity has acquired their core position and are picking away... or that their excitement about SC has waned. I dont see a definitive argument on either side of the Stifel front apart from their reputation as being leaders in mining investment. That is my comfy place with Stifel.

Insider buying also puts me in a comfy place.

"ES promised a higher grade, lower APEX, so why argue?" The reason that I 'argue' about these things as Elmer has only promised to maximize grades and keep Capex 'in the range of 2008'. There is a difference between seeking and finding.

Be careful when saying that the shorts have covered... They still have 200k shares...

http://www.dataexplorers.com/products/data

The chart below, and on the home page, shows the quantity of shares out on loan for the queried ticker.