ELM management are fine to communicate with
Their timing was unlucky
They judged Canada to be the place to raise capital
ELM just raised $64m or so
That is alot of capital
And when/if they need to build, at 50% debt:equity, that would be, say, another 200m shares @ $4.50 to raise $900m
TRH will need to make similar decisions
Look at FMJ - they are raising $ in Hong Kong/China
Regards
