I'm sure we all remember the infamous sale of the Cueva Blanca property to "Minera Elemento 79". Without being able to access any sort of financials, how do we know if we are receiving any royalties from these claims?

According to the Peruvian website Ingemmet, Exploration & Mining SA, only owes penalties on 3 of the 8 claims (Cueva Blanca 6, 9, & 10) This tells me that work must have been done on the other 5 claims (Cueva Blanca A,B,C,D,& E). I'm not familiar with the rules on Peruvian claims penalties, but I'm sure it is similar to B.C.'s policies.

St. Elias and its wholly-owned subsidiary, Minera Santa Elisa S.A., have entered into an agreement with Minera Elemento 79 S.A. (“Elemento”) whereby St. Elias has agreed to sell and Elemento has agreed to purchase a 100% interest in the Cueva Blanca Property, subject to a 3% net smelter return royalty (the “NSR”), in consideration of US$100,000. Under the terms of the agreement, Elemento can purchase 83.33% of the NSR in consideration of paying US$2,500,000 to St. Elias thereby reducing St. Elias’ portion of the NSR to 0.5%.