RE: RE: Eleonore South results and statusI'd concur that it's too early to call El South a dud. It is interesting however that each party to the JV is now providing their share of the funding to the project whereas before it was announced that Goldcorp was providing 100% right through bankable feasibility. My thinking is that this reflects more the financial realities of our brave new world rather than reflecting on the potential of the project. Everybody, even the majors, are protecting their treasuries.
This little snippet was released by Azimut along with the El South results......
Opinaca D property: Eastmain has informed Azimut that it is withdrawing from its option to earn
a 50% interest. About $980,000 has already been spent by Eastmain, resulting in the definition
of drill targets. Azimut believes that this property has good exploration potential.
Again, I'd say this is more fiduciary responsibility on ER's part, you can't kiss all the girls so you have to focus on the ones you believe are keepers and spend your money there. Eau Claire is still ER's best asset with the Eastmain/Ruby Hill property an arguable second best.