Yeah that's the problem isn't it Jack. I've heard many a...

Yeah that's the problem isn't it Jack. I've heard many a knowledgeable person say that next year could get interesting with the culmination of US debt problems and the EU problems.

ELM need to do a bit more than drill a few more holes and hope for a JV. They really need to get some surety of funding, or at least top up the coffers to get through next year and the DFS. Dilution would be huge at this point however.

I've seen a similar script play out with ARU and DTE, for example. The upside of DTE is production is slated for next year, however ELM isn't until at least 2016, if things go to plan.

On the bright side, if we can only get a multinational interested in the excellent resource...