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Message: Re: Due dates fall short
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Dec 29, 2011 08:39AM

SFMI has never been good about meeting deadlines, but they do come through eventually.

1. Looking at the smelter building construction, it seems obvious from the solid way that it was built that they should have known it would take longer than they said.

2. The lease payment delay is good for SFMI, and is not another delay in and of itself, but the result of the other delays. The delay seems to be for 9 months, with the possibility of extending it to 18 months.

3. Check ourigan's photos. There's a large cylindrical container outside the end where the expansion will be. And they have removed much of that end wall. Not sure how the expansion will incorporate that container, but I assume they have it planned out. And remember, the equipment in the mill now takes up less than half the space (at least at the 2010 SHM). So, again a delay, but they seem to be working on it.

4. 43-101? We'll know when we get it. No way to know how they're progressing. And to some extent it's out of their hands since it's third party.

5. Drilling? I think they had everything lined up a while ago before they had to delay to do more work on the Sinker. They probably had to cancel whatever drilling they had planned at the time. Lots of competition for drillers now, but I presume they'll get it done.

6. As you said, we wait for either the filings or for them to be comfortable with security before we get numbers. I assume that they wouldn't be so concerned with security if there weren't a lot of gold.

7. Assay results are good, but hopefully they can maintain something closer to 6 gpt than 3.

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Dec 29, 2011 11:21AM
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Dec 29, 2011 01:07PM
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Dec 29, 2011 01:19PM
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