I see a couple things that I would say are notable or at least I would like an explanation on them. There are also a couple other things that I am looking at that I don,t quite understand.

In the Travel column is the figure of $283,912 for the 3 month period ending Feb 28, so, Nov 28 til Feb 28 roughly.

Thats 90 days approx, which equates to approx $3150 per day on travel. I have no idea how a company can spend this much on travel per day when we are literally stagnant.

I also see an obligation to give someone or some entity $100,000 worth of shares, or at least thats how I interpret it. So apparently, someone is owed this yet?

I see directors fees and management fees are still coming out of the cash burn. The director fee has tripled since the same time last year, from $6000 to $18000, for the 3 months.

I also see our Peruvian assets (excluding properties) used to be valued at $827,028 this time last year, they are now valued at $96,299. I don,t know if this is equipment that has been sold,depreciated or what, but its a big drop. Just a thought, but could Minera Santa Elisa, our subsidiary hold shares of SLI and this is what we are seeing? An accountants perspective on this would be appreciated.

To sum up, the companies burn rate seems to be over $500,000 per 3 month period, we had $380,000 or so cash left at Feb 28TH. It saddens me to see director and managements compensation to continuously come out of the treasury while it was getting precariously low and the travel costs remain what I would call staggering. Even if management is mad at the majority of shareholders, you would think they would still feel an obligation or fudiciary duty to the White Proxy shareholders to cut back on the expenditures to let the company have a chance at surviving?

IMO