As we know, Buenaventura has expressed interest in our CB (Cueva Blanca) property as per a news release a few months back. IGD currently holds an option on that property from us(SLI), and have kept up their obligations on that contract, with a 60% interest.

On Dec 10/2002 there was an engineering report released on SEDAR that had a resource estimate for the CB which went like this;

at least

154,000 - 190,000 ounces of gold

945,000 ounces of silver

This estimate was/is not 43-101 compliant and doesn,t appear to have been scaled, as far as I can see. But, it had a cutoff grade of .5 g/t, in which today is a high cutoff in some instances where .17 g/t are allowed to enter reserves. Also, this estimate seems to be only from the Cruz Vein system on the property, there have been more discoveries since then on the property for instance, mineralized breccia that was not in this report. This estimate was only based on a 100m depth, but there is reason to believe it continues deeper, also there was a geophysics done on this property that we have never seen.

If looked at a quick offer on this property of $100 per ounce in the ground gold, that would roughly equate to $18 million, that would mean about .07 per share to SLI shareholders. Keep in mind that this is very conservative, for instance the cutoff grade, not adding any value for the silver or any of the new discoveries since 2002. Its quite possible this property could have multi million ounces of gold because of the diatremes and breccias that have been under or not explored,as well as the copper that has not been looked at.

When I look at this article below about Buenaventura, I see them starting up a mine to mine a deposit that has ~198k ounces of gold,Breapampa, the same as CB had in 2002. So by looking at the article, I can see now why they are interested in CB because that company is not really focusing on the million ounce deposits, but the couple hundred ounce ones too. If they are trying to secure more reserves, a move on a property with a couple hundred thousand ounces is very possible.

http://www.minerandina.com/en/buenaventura-launches-breapampa/

IMO, a $100 million offer for the CB is not out of the question at this time, because you also have to consider the adjoining Candente property and the numerous NDA,s they have signed. A $100 million offer, would equate to ~ .33 per SLI share. A far cry from where our sp is now, so there is zero speculation factored into our sp at this time, when you consider the above scenario. A ridiculous sp and I can,t understand why its relentlessly being suppressed.

IMO