We have had meetings in Melbourne with my shareholder mates in last few days. We have further analyzed previous ELM announcements and found that we were slightly wrong and unfair when we were judging ELM management.
Management told us that they were fast tracking the project into the mining stage. We have no doubt that these guys will be fast tracking as they did at Uramin. They would have been happy with what we have in the Bank account if they were not serious.
How could you develop a mine or even begin to think about developing it with $6.5M that we have in the Bank? You wouldn't...You need money ? How much money? I would say $50M plus for a start up. Resolution - 7 supports that these guys are serious about fast tracking.
Second point we have missed was the CR and how it's managed.
I am convinced that we have a great future ahead of us. I am not selling anytime soon.
DYOR, No advice given.
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