This could be true, TOM. Here is the Strategic Plan statement from our website;

St. Elias is focusing on the acquisition and development of high potential gold properties in the most prolific regions of the world with particular attention being paid to gold mining exploration in Peru. St. Elias utilizes option/joint venture participation to fund the exploration and development of certain of its gold projects as well as spinning-off mineral properties into new companies and making properties available to producing gold companies for acquisition.

http://steliasmines.com/strategic-plan/

We have had some good discussion on mining it ourselves in the past. Kherson at one point made the royalty scenario a speculative possibilty as well, but would fit well at a later stage in our development..

The Dynacor mill today can handle up to 220 tonnes per day. Their new mill will be able to handle ~300 tonnes per day on top of the 220. Here is an excerpt below from a Jan this year NR of Dynacors;

Plant Expansion

"In October 2011, the Company's Board of Director approved the construction of a new 300 tonne per day gold-ore processing plant in southern Peru (October 24, 2011 press release ) which represents the key to the 'ramp-up' in production to a level in excess of 100,000 tonnes of ore per annum in a mid-term period. The Company is waiting for the obtaining of its environmental and construction permits to begin the construction.

Peru is the 6th largest gold producer in the world. The small scale mining community is rapidly expanding and Dynacor is positioning itself to become the foremost gold ore processing company in Peru. The new plant has been designed to be readily upgraded to 430 tonnes per day. This 'state of the art' gold-ore processing plant is to be built with an initial capacity of 300 tonnes per day".

Lets say for fun that Dynacor could mill 50 tonnes for us a day at the average gold return of .77 oz/t. That would equate to ~38 ounces per day. Minus an estimate of $400 per ton mill charge and lets add in a $100 per ton freight charge,and $100 per ton mining charge on the property,( I am just making guesses on these prices, although I expect them to be approximate.) So, that leaves $600 cost per ounce taken off a $1700 ounce gold, leaves $1100 per ounce profit. I will only use $1000 per ounce profit times 38 ounces per day times 30 days for a monthly total of $1.14 million. At 12 months, you have $13 million out of this small operation and it would pay for further exploration without further share dilution?

Just some speculation on my part derived from looking at the facts and in my opinion.