Good question meteor.

I am going to make a speculation as to what I think may be happening. "Speculation" being the key word because with absolutely no communication from management in months, that is all we can do.

First of all, I want to let everyone know that this is strictly "MY" take of the situation. So before management jumps up and down yelling defamation and calling their legal team, THIS IS STRICTLY MY OPINION!!!! I don't have much to go on as we have not seen a financial statement, an MD&A, or heard anything whatsoever from management in almost a year. So here goes:

From the last financials we know that SLI is essentially broke, and presumably, so is Minera Santa Elisa as their assets are suppose to be listed with St. Elias's. That being said, the combined total of the 4 Peruvian properties vigencia and penalties is $14,633.18.

So where did this money come from? Who keeps paying this and why? I can't see Brophy doing it, what would he get out of it, unless him and Marcell are mining it on their own.

Could another company have paid for it, let's say our sister company? What would happen if they offered us pennies a share to take us over now that the claims are secured? It is my understanding, and I could definately be wrong, that any offer made has to be voted on by the shareholders.

But what if the CEO's recommendation is something like this.....I am in favor of this transaction and recommend that you also vote in favor of it, as I would like to see the shareholders get some value out of their existing shares. Because of the unfavorable financial situation and the inablility to raise money, I cannot guarantee that we will not be delisting or facing bank ruptcy in the near future.

So we have a rock... and we have a hard spot.... and we are sitting right in the middle.

As I stated earlier, this is MY OPINION ONLY! The only one that can tell us what is really happening is the CEO, so I'm asking her now to issue a news release and let us know what is going on.