As we all know, per the news release below of last Aug 2011, IGD was commencing work on Chance E that adjoins the Tesoro.Here is the exact text from that news release;

The program is scheduled to commence immediately.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-options-strategic-claim-adjoining-tesoro-to-intigold/

Another release from April this year says that exploration is starting then;

http://ca.finance.yahoo.com/news/intigold-mines-limited-chance-e-033500147.html

A quick look at IGD,s latest financials , ending April 30/2012, may suggest that no work has been done on the Chance E property that IGD has optioned from us up til the April 30th this year. As it states in the above release, work was supposed to start last Sept/2011 on the Chance E. Why does it show zero spent up til this date of April 30/2012? We had optioned Chance E out to IGD so we could get more info from that part of the property and hopefully speed up the proving process, why have they sat idle?

If there has been no work done on Chance E by Aug end/ 2012, IGD is in breach of contract by not fulfilling their option agreement of spending $200,000 on the property in the first 12 months of the agreement. If IGD were unable to fulfill their agreement, shouldn,t this have been given to someone that could, like Capitol 88 that seems to have money and said they were going right to work on Chance F for us? The Chance E was a very important part of our flagship property and we needed work done on that right away, not wait and have nothing done, it defies the whole dynamics of optioning properties out.

So, if nothing has been done to Chance E and we don,t get an NR expressing the work done to date on it shortly, maybe SLI should consider giving the option to another company? IGD can,t say it didn,t have the money because it did a recent bought deal PP to buy 51% of TTAGIT while we saw no PP attempts to raise exploration money before that.

I should note that IGD has done work on our CB and expenses are showing up in their financials in that respect.

Also, I should mention that Chance F was recently optioned to 88 Capital Corp with the same line in it; The program is scheduled to commence immediately. Maybe someone should call them to see if they are working on Chance F?

http://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=CompanySummary&PO_ID=1148995

http://www.thenewswire.ca/archives?tnwarchive2=release_id%3D6526

I am a shareholder of IGD as well and have to say that I have seen no sample numbers from the other properties they have optioned from SLI, with the exception of CB, in the last few years. IGD also holds an option on our BeaverDell property that will be part of Havilah, with no new sample numbers from there as well.

IMO