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Eloro Resources Ltd T.ELO

Alternate Symbol(s):  ELRRF

Eloro Resources Ltd. is a Canada-based exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. It is focused on developing its potential Iska Iska silver-tin polymetallic property in the Potosi Department of southern Bolivia. The Iska Iska Porvenir Concession is a road accessible, royalty-free property that covers an area of 900 hectares located 48-kilometer (km) north of Tupiza city, in the Sud Chichas Province of the Department of Potosi. It also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing over 89 square kilometers. La Victoria has infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.


TSX:ELO - Post by User

Bullboard Posts
Comment by production05on Jun 16, 2015 2:35am
108 Views
Post# 23834184

RE:RE:RE:Question?

RE:RE:RE:Question? The management team for Cartier Iron and Eloro is essentially the same. Eloro has a couple of extra managers. Also, the board of the directors between the companies is a bit different.

Common managers:

* Thomas Larsen - CEO
* John Langton - President
* Miles Nagamatsu - CFO
* Jorge Estepa - Corporate Secretary

Common Directors:

* Thomas Larsen
* Francis Sauve

Although John Langton is a Director of Cartier and the President of Eloro (even though he is not officially a Eloro Director).

Cartier Iron provided a bit of debt to Eloro last year (during the transition period) to evaluate the Peru property (and perhaps make up front payments).

The debt was a convertible debenture, which was converted to a bunch of Eloro common shares earlier this year. As such, Cartier Iron is currently a very large shareholder of Eloro.

Also of note, individual management members, listed above, also participated in previous financings (out of their own pockets) - after Eloro took up the option for the Peru property. They all seem to believe heavily on the Peru property.

Here is Cartier Iron news release from earlier in the year:

https://www.marketwired.com/press-release/cartier-iron-announces-early-warning-report-on-its-eloro-resources-holdings-cnsx-cfe-1986229.htm

Bullboard Posts