It seems like we spent $700 k in 3 months from june 1 to aug 13, thats a burn rate of ~ $230k per month on that average. It doesn,t seem that much was going on with the company at that time, but NR,s are so vague that you wouldn,t know anyway. For example, multiple releases saying work was comensing immediately on properties, only to get the same NR months later. So, pretty hard to know if work was going on or not, IMO.

If you want to use that burn rate and apply it to the cash position of ~ $3 million, we could go a few months without needing cash, AFTER drilling has started, so again, no need for a crazy PP at this stage. Plus I thought I heard someone say that Dan the new IR guy said we were trenching? If so, the Quantec shows numerous gradient/alterations that have to be mineralized, everything on the property seems to be mineralized to some extent, not to mention high grade veins, the chances of finding nothing, is zero, so some news may help get the sp up. I might add that the last trenching results released were disgraceful in the manner in which they were released, there could be so much more in that trenching, and we wouldn,t know, very unacceptable presentation!

In the general information section, no big deal, but the trading symbols for the Frankfurt and U.S. exchanges are wrong.

We have 2 subsidiaries, Havilah and Minera Santa Elisa, all that money spent on the spin out, and no Havilah shares yet, it must be a year gone by now.

There are more things about the properties IGD holds for us, but I will just mention now, that BeaverDell, Chance E and Cueva Blanca, have ALL their agreements with us extended til Dec 31/2012. It doesn,t appear IGD has been doing very much work on these properties and maybe they could have been given to some other company to advance for us and create shareholder value for SLI, while the SP was nose diving and IGD sitting on money that it could have applied to these properties, definitely not in the best interest to shareholders, and to see the insult of a week or so work done on our Chance E property in a year.

IGD was supposed to pay SLI $150k by june 15 this year for Beaver Dell, I dont think its all in this financial, because it only looks like $50k from something was paid. It may be in the yearly one, and a cross reference to IGD ,s financials would should when/if, it was paid in full. The most disturbing thing about this agreement is that it looks like the option agreement is for 100% ownership. Rather than us selling it, it is getting aquired under the option agreement if obligations are met.

We obtained the properties Casino Gold and Gold Summit around 2010, and never got an NR saying that we got them, but considerable amount was paid for them. That reminds me, there should have been sample results from there to come out yet, from last year. Anyways, we paid $120k for Casino and $150k for Gold summit, in which we bought it from 824712 BC Ltd, that sounds familiar?

Then last Oct, we paid $230k for the North Rim property, no NR about it, and would seem a sizable aquisition for a small company like us, yet no news release on it.

All IMO