ismore,

These are the terms of that agreement with IGD. Take note that the 200k can be paid by the end of year 2.

Under the terms of the letter agreement, Intigold can acquire a 60% carried interest in the Property (subject to a 1.5% NSR) in consideration of:

(a) making cash payments of $200,000 to St. Elias over a two-year period;

(b) issuing 1,000,000 common shares in the capital of Intigold to St. Elias; and

(c) incurring $1,500,000 in exploration expenditures on the Property over a three-year period.

In addition, Intigold shall have the right to purchase one-half of the 1.5% NSR from St. Elias for the sum of $1,500,000 thereby reducing the NSR payable to from 1.5% to 0.75%.

SO, it appears that IGD can use its current cash for other things at present. It doesn,t say that any thing was due at signing, in other words, the agreement is vaguely written. If the next step is for SLI to option the Vilcoro to IGD, then IGD is still all cashed up from the PP just filled. It is possible that SLI can option more properties to IGD with similar agreements allowing IGD to have an interest in all our properties without spending anything for 2 years.

I should add,that that way our properties are in safe keeping with contracts on them that would make it complicated in event of a hostile bid for SLI.

Keep in mind, we have top knotch lawyers, very expensive, for a reason.