RE: Will St.Elias make a move to reinstate faith i Very good post, Desmosthenes. The question "Will St. Elias do something to revive the diminishing faith people hold for the company?" is basically a rhetorical question. Of course they would if they could, as I'm sure managment wants this thing to fly as much as shareholders. The real question is "Can St. Elias do something to reivie the dimishing faith people hold for the company? If the drill bit doesn't cooperate, then the answer may be "no" because at this point it comes down to drill results and little else. If the world class deposit everyone was expecting turns out not to be there, then there's little managment can do about it, right?
As for whether to cut losses or hold on, I guess it comes down to what you believe the next set of results will look like, because excellent drill results could turn things around in a flash. Most exploration juniors trade the same way. They are news-driven and jump up on good news and then slowly drift downward between news releases. SLI is trading that typical pattern. The longer the wait the more it will trend downward with a few short upward trends along the way.
So what do you believe? I know the news releases have been ambiguously written enough to cause untold debate on what has been drill tested. Personally, I believe they have tested the anomaly/ovoid as stated in the Jan 23rd news release, so I expect future drill results to look the same as the first 4300m. But I could be wrong. If you're hanging on, it must be because you believe the drill results will get better. The last 12yrs of exploration and "proving it up, proving it up" (in Lori's words) has amounted to an inferred resource of 4460 oz, so the question is, in the absense of good drill results, how will Tesoro ever be proven up?