More InfoInterim COO @ ELR is Andrea Zhang. She is with Oriental Fortune Consulting. OFC is controlled by Xiao Zhang (discovered this by buying the company filings from a HK source).
Andrea has not received any options @ $1.05. Xiao has, however. Perhaps Xiao will soon replace Andrea.
Furthermore, Diana Hu... She is with CGH Industries in BC which is a scrap metal waste company. It appears they are shipping a bulk of their material back to China. CGH Industries is linked to Caland Resources Ltd. as they both have the same #. Caland Resources is run by Wei Guo.
Scrap and waste is of relevance. Not sure if there is any correlation to Diana Hu, Wei Guo and Hebei - but - please read: https://www.saflii.org/za/cases/ZACT/2015/110.html
Points 24, 27
I have a gut feeling the original Hebei group is still involved and this is simply a play for the company at a cheaper price. I do not know the odds for an asset sale.
It appears the behind the scenes legality concerning the BEE is the issue here. The company cannot make any moves forward, and a third party cannot make any moves until this is resolved.
However, with everyone down 50%+ right now, and directors who signed NDA's for options @ $1.05, there must be an exit or end-strategy in mind.