Invesco Emerging Markets Sovereign Debt ETF V.PCY

As of June $8,5 Million Working Capital

[str8tgoods]

They seem to be incurring higher than anticipated expenses and a financing or cash raise of some form was contemplated as per the latest MD&A.

6. Liquidity and Capital Resources

The Company will require additional sources of liquidity to continue to develop the Ulaan Ovoo mine and develop the Chandgana Power Plant Project. Sources of potential liquidity may include cash on hand, generating coal sales from off-take agreements, dispositions of its investments in energy resource, nickel and platinum companies, and additional financing. Although the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that the terms of such financing will be favourable. The timing and ability to fulfill this objective will depend on the liquidity of the financial markets as well as the willingness of investors to finance exploration companies in the mining industry.

6.1 Working Capital

The Company ended Q1 2011 with $19.7 million (December 31, 2010 - $39.3 million) cash and cash equivalents and net working capital of over $26.5 million (December 31, 2010 - $35.8 million).

As at the date of this report, the Company?s working capital is approximately $8.5 million.