Slate Grocery REIT T.SGR

RE:RE:The language in the press release...

[TedOwens]

Land positions, regardless of projected potential, are completely discounted as an asset yardstick when taking into account any takeover scenarios, unless such holdings are in at least the measured and indicated resource category. San Gold has a large and promising land base but its mostly at speculative levels of future resource potential categories and as such, would not factor into any takeover calculation for overall asset valuation.............When looking at the bigger resource plays that the majors have taken out, San Gold has a relatively small resource outlined at Rice Lake and when further taking into account the production inefficiencies in place at the infrastructure level, the value of the company and its assets are nowhere even close to being takeover grade.............A J.V. may be possible but the incoming partner will need very deep pockets in order to survive the waiting period which would still be needed to be overcome while the entire operation gets turned around..........Most intermediates wont get involved in this property and the majors would still view the operation and surrounding land base as little more than possible extensions to an already small ore body model that is completely outside of the scope of threshold for it to even remotely get involved with to meet the asset criteria at the scale that the majors need to have in place to warrant its intervention strategies............SGR is in serious trouble right now and while no one can say for sure that they cannot come out of this intact at some point in the future, it is without question that due to the broken promises of turn around be made at the consistently low prevalent gold prices, that unless gold takes a very significant and fast tracked rebound over the coming year to two years, it would be safe to state that this play is going sideways at best for the next few years.........The pumpers on this play were obviously making false and misleading statement on the board and have lost all credibility.