Slate Grocery REIT T.SGR

RE: There was no discussion , RCI, of ....

[mbgld]

Retiredminer no reason to get into a spitting match, just discussing things, we don't have to agree on everything. And yes I am long on sgr, but I do refuse to follow it blindly. Our management team had a NR on April 13/07 proclaiming SGR's first gold sale. In this NR they stated they were on track to produce 50,000 0z for the year. This is 4 1/2 months into the year where they were still telling the shareholders production was going as planned. Sometime after that plans changed. Dale was asked this at the meeting but never gave a definitive answer as to when and why they did not tell shareholders. He eventually begrudgingly conceded that more disclosure should be evident in the future. This quote was taken from the March 12/07 NR. Current ore development is taking place in the tracked levels above 4700 feet where approximately 15 individual ore faces and stopes are underway including the high grade “98” and “93” veins. The Rice Lake Mine vein systems remain open at depth and along strike and the company will continue to focus their exploration efforts on areas with high grade gold potential. Quote taken from NR dated Jan 17/06( I think the year is of by one year) This is San Gold’s second significanthigh grade development in as many months at the Rice Lake Gold Mine. The “93” vein is a shear hosted tabular quartz vein located 500 feet east of and striking parallel to the similar high grade “98” vein, which is also being developed currently by San Gold (see press release dated Nov. 1, 2006). San Gold Develops High Grade "98" Vein at Rice Lake – November 1, 2006 Dale Ginn, President of San Gold Corporation (TSX-V: SGR) is pleased to report that mining development on the 29th level (4400 feet) of the Rice Lake Gold Mine has identified significantly higher grade gold values than anticipated. Face sampling of the drift and raise development along the "98" Vein has resulted in an average diluted grade of 1.04 oz/ton (35.60 g/tonne) over a strike length of 300 feet (91.5 m) and an average true width of 6 feet (1.8 m). Coarse, visible gold was commonplace throughout the development of this block of the "98" vein. These levels are being developed by our miners not the contract miners, they are deeper in the mine according to Dale at the AGM. What I am saying is that it is a little peculiar that up to April 2007 we had all of our ducks in a row to proceed to an anticipated production level of 50,000 oz and then the plug was pulled suddenly in favor of increasing further development of ore bodies. All we will produce this year is about 10,000 oz. At the AGM I believe Dale gave a projection of 66,000 oz. After development of all these new ore bodies why only a projected increase of 16,000 oz. Yes, it was alluded to that it could be higher if the grades are better. I thought that was the purpose to developing the areas with higher grades? Upon reflection of things that were said at the AGM and comparing it to time lines of the NRs things are not adding up. Such as, again the contribution of the contract workers who sole mission is developmental work. Why not allow the contract workers to develop the ore sites and our less experienced miners, mine the existing developed ore sites. There should be a few of those kicking around since last April. SGR long Cheers