St. Elias Mines – (SLI) – Dissidents lose at the A As the dissidents contemplate the loss they suffered at yesterdays AGM they once again plead for donations to cover their court costs as well as pay for future legal costs as it has already been suggested at Agoracom that this battle will be going to court.
I am still amazed at how dissident posters have been manipulated and deceived by a few key individuals (on and off line) and rather then admit that they where mistaken they will waste more time and money fighting a frivolous battle. I do not expect further legal action on the part of the dissidents due ot a lack of funds.
One of the key arguments to continue fighting for control is that Tesoro must be huge because Lori is fighting to keep it. Agoracom posters over look an entire host of facts and narrow in on their own delusional thought process. St. Elias Mines was started by Lori. As such there are sentimental and emotional connections to the company. Beyond that it is a paying job. I don’t know anyone who willingly steps aside gracefully to allow anyone else to steal that job. There is also the case to be made that St. Elias Mines is not a one trick pony. There are multiple other projects, 8 or 9.
Dissident posters and I assume the Concerned Shareholders listed in their dissident circular have all fallen victim to the idiotic ideas put forth by internet posters such and Hogtown06, Sculpin, Bow2u, and many others. They have built a dream for themselves and a flock of sheeple that is so strong that they will not give in to reality. The dream has turned into conspiracy with these posting making such claims as the government, the TSX, the BCSC and other are involved with protecting St. Elias Mines and suppressing the little guy.
The bottom line is that the due diligence that started this journey from $0.10 to $2.80 and back again was flawed. When you have uneducated individuals trying to interpret geology and geophysics that people typically tend to spend years at university studying you have to expect it to be wrong.
Here is a list of faulty conclusions drawn from the minds of uneducated people interpreting things in error:
- There are high grades at surface to the grades must get higher at depth.
- Veins must get wider at depth
- Some host rock contains disseminated gold so the entire property is loaded with disseminated gold.
- All we need is 0.3 g/t to make a mine with 100 million ounces of gold
- Quantec detects gold
- After some research, Quantec detects sulphides and we have sulphides on Tesoro so Quantec still detects gold.
- Anomalies at property X are loaded with gold so our anomalies are loaded with gold.
- A chargeability of X was gold at property Z so ours is the same.
- Knowing the dip and azimuth of the drill hole will change the interpretation of a very bad drill result and make it a great drill result.
The bottom line again is that the due diligence was wrong and people believed it because they had no idea what they were looking at but they believed in the dream of becoming rich. This is the same think that draws people into companies like Amway. The Amway distributors are not selling a business or a product. They sell a dream. As long as the dream is alive the distributors remain involved.
When you read Agoracom posts over the last several months they are all about sticking together, fighting as a team, supporting the cause because the little guy will win this time, the system will not steal their fortunes from them. This is very much like mob mentaility or cult behavior.
This fight has nothing to do with logic, Tesoro, or St. Elias Mines. This fight is nothing more then protecting egos. Those who created the dream using faulty logic and those who believe it are not able to give up the dream because if they do they will realize that them bottom of their empty bag was cut out by themselves.
Some questions that have never been answered by the dissident posters pertaining to the presumed size of the Tesoro deposit include:
- Why did Lori sell her stock if the deposit is huge?
- Why did she not release great results if she had them?
The answers are simple, there is no huge deposit and there are no great results. The dissident refuse to accept that and based on their faulty logic these questions have no intelligent answer because if the conspiracy is true then there is no logical answer. For the record, there is no conspiracy! This was nothing more then the overactive imagination of people who have lost everything and are unable to accept responsibility for their mistakes.
At present you are either a supporter of the company and its management or you are a dissident in one form or another. If you are a dissident you most likely have fallen victim to faulty Agoracom logic and the idiotic conspiracy. The best thing you can do for your own pocket book right now is to either sell your stock and accept that you have been victimised by those at Agoracom or you can shut up and let the company return to work and try to deliver shareholder value though exploration. You should also immediately stop listening to the ranting of Sculpin. He has clearly demonstrated his lack of geological understanding and lack of investment savvy time and time again. Start listening to the company news releases and investor relations.
I do suggest that everyone take the time to e-mail Agoracom and voice your concerns with them regarding the abuse of power demonstrated by the hub leaders on the St. Elias Mines board. Their censorship of opinions and facts that where contrary to their own resulted in many people losing their life savings. It is unacceptable to allow such disrespect for opinion and information in a world that embraces freedom of speech and thought.
At this point in time we know that there is gold at Tesoro in narrow high grade veins that can be mined economically on a small scale. These types of deposits are very difficult to prove up as has been demonstrated by the drill results. In my opinion St. Elias Mines should return to mining the property as planned. They also plan a limited 5000 meter drill program. I think that these 5000 meters are better drilled some place else and if they miss on the first few drill holes I hope that they do not continue to drill more. I suspect they will not. They were smart enough to halt the drills the first time.
As always, much of my post is my opinion, with the exception of the statement that the conspiracy theory is wrong, that part is fact!
Happy New Year to all!
Primed24