I listened to the conference call where Lori was talking about Bains and St. James resignation and the new directors coming on board. I had a bit of a problem translating the audio, as the background laughter and talking was a bit loud at times, but if you haven't heard it before, here is my transcript of that part of the conference call.

Let's see if anyone can spot some oddly strange differences in the following:

Minute 19:15 mark:

People are wondering about the directors resigning, that would be Allan St. James and Duncan Bains, okay?

Now they resigned, I actually asked them to resign and anyone can go back and check this out, factual or not, but they really never contributed anything to St. Elias whatsoever. They were there for 12-14 years, they excercised options, took all the money off the table and didn't build a position or anything else. Just collected their options and were non participating directors.

Now I exercise options as well, but I build my position. I actually sold a bunch of shares and was able to double my position by excersing my options.

(background laughter)

I didn't take all the money off the table and go, and they had the same oppurtunity to show they were behind the company and build a position. You know, you've got a certain amount of options at a certain price you sell them up to excercise them all and the rest you've got basically to build a position for free because the stock was up there, but they didn't choose to do that. They excercised their options and left and weren't participating.

The new directors are participating directors, they have excellent business backgrounds. Both of them have built successful businesses in the past and then they moved on to bigger and better things. And the new directors are thrilled to be involved with St. Elias and again, they will be participating directors and they are coming in at exactly the right time because...

(muffled laughter and talking is blocking out the next few words)

At this point of development St. Elias, any kind of take over or business deal, their input will be invaluable.