eur, page-233

This is correct. EUR will hold 75 million CRM shares. Several forum members are under the surmise that these shares will be divvied up among the shareholders. I asked the question at the AGM and were told bluntly that this would not happen. It had not even been considered. There was a brief discussion that if this would occur then how.

The situation then would be that EUR would have 80% and Sizzle shareholders would have 20%. This is an untenable position as the Sizzle shareholders would be outgunned in every way. They would then be wise to leave. The funds to go ahead have been organized. There will be no need for any CR. This would only lead to dilution. The only option would be for EUR to sell down some of their holding. This would provide EUR cash for other opportunities.

EUR is an entrepreneurial company. It is not a miner, nor a mine developer. It finds projects then value adds to the projects and sells them on to somebody that is prepared to pay. In the past EUR have done this by asking the shareholders for funds. With a war chest they can go to town.

From the horse's mouth CLE we will value add and sell off to a steelworks. EUR is different, we will run with it and see what we can get out of it. He also made the statement about needing to sell down.