my ???? without answering dear all,
may I ask you few questions regarding the current status of companies projects:
1.referring to the new corporate presentation a decision for production is still pending and probably is dependent upon FS results in 2022. However in last 4 years ELEF promoted Gibellini project stating everywhere as if decicion was done already and even the terms for development, financing, construction and commissioning were determined - 2021,2022, 2023 accordingly. These deadlines were present in all your presentations and now i've found in your project description «The Gibellini project has no timeline to production at this time.»
Could you please comment what was a reason to change your "marketing strategy". Is that done following results of last meeting with BLM and potencial strategic investors and other project stakeholders at the beginnig April?
- Mr. Lee mentioned in all his last interviews that privat investors shall not rely on PEA’s results and even FS are sometimes wrong ( the best example for that is ELEF’s FS to Ulan Ovoo coal project in Mongolia whre ELEF lost about $100 million ). Refferring to Mr. Lee all big investors usually make FS themselfs as part of their DD’s.
Could you please explain what is the reason to execute two analysises ( PEA in Q2, 2021 und FS in Q1, 2022 ) one after another in short term for Gibellini and FS in 2022 for Minago and Pulacayo. I can imagine PEA could be a requirement for a successfull spin-off this year but why not to save funds performing that works extending to a FS format right away ( if a study required by possible investors). - In some version of the project schedule ELEF posponed EIS decision to Q3. ( in the current version is it not clear at all). Does it mean something is changed in Secretatial Order 3355 and the record of decision with 12 months is nor fixed anymore.
- Recently ELEF filed a new short prospectus seeking $75.000.000. I assume these funds shall be addressed partly to the vanadium project. However Mr. Lee had mentioned several times that financing for Gibellini project shall be done on the subcidiary level ( Nevada Vanadium). How to understand this prospectus???
- Mr. Lee mentioned on twitter he had been pursuing a goal for ELEF’s listing on AMEX by June 2021.Is that still a management’s target. If yes, will it be done through IPO? Do you want to get through IPO all 75.000.000 or just a part of that?