My thoughts:

- bottom of page 2: $2.70 is an 18-month price target and they say that they are anticipating a lengthy time delay (i.e. the 18 months) before the exploration is complete, reserves are proven, and the property is ready for sale. Maybe they are being very conservative in this assessment, and I hope so, because I was hoping for things to come together by Xmas 2010, not Xmas 2011! But if these guys are in tight with SLI because they wrote this report, then maybe they have a more realistic view of how long things are really going to take. Again, I hope it's not 18 months.

- does anyone know how the scaling factor (32%) is determined?

Thanks,

JSS