Eloro on the TSX, page-13

Basically shell value now, so downside would have to be extremely limited on any volume.

Could be a combination of sentiment towards gold juniors, fatigued shareholders due to the suspension of trading and generally slow progress, peeved off newsletter subscribers as someone said.

- $3.84m cash eoq.
- Phase 2A committment of ~CAD$1.6m, of which $1.27m contributed during the qtr, leaving CAD$330k, or ~AUD$345k.

Should have ~$3.5m cash after all Phase 2A payments, for 18% of project. From there, they could pay another CAD$1.4m to get up to 25%. Or they could go their own way and seek another project.