“Eloro: Too Big to Understand in Bolivia”
Eloro’s (ELO.T) CEO, Tom Larsen, is “Blown away.”
Eloro’s share price has been in free fall since the company put out its maiden 43-101 compliant Mineral Resource Estimate at the end of August. It was a whopper of a silver/polymetallic resource: “670 million tonnes containing 1.15 Billion In-situ Ounces Silver Equivalent”.
“It’s totally unique,” said Larsen in a phone interview. “The Exchange and Micon wanted us to use NSR rather than Silver Equivalent ounces. In a PEA you can do both. But on a NSR basis, in the upper pit we would be getting $35 per ton back from the smelter on an operating cost of around $9.40, the arithmetic is clear.
Bryan,
Perhaps you can’t comment, but I find it interesting that you infer that that everything is corrupt?
The mining companies are corrupt?
Absolutely. I suggest you learn about secret societies and then you will have a broader understanding regarding why none of these people are fighting against the manipulation, even though it has actively destroyed the market cap of every single company in the space.
Thank you for being a loyal King World News reader & listener.
For someone so smart about how all the manipulation works preventing you from profiting, how dumb are you to have gone long knowing all this and losing on everything you bought?
Eloro is in Bolivia which is allied with the Left Wing leaders of Brazil, Venezuela, Nicaragua and Colombia. If you invest in a company with its main resource in Bolivia you run the risk of high taxation, high royalty payments or worse confiscation. Communists are ruthless and stupid. If you have your money in their countries then it is on you if they steal it and they love doing that.
Eloro has found a huge deposit but until Bolivia changes it government I would be careful. The next election is 2025 and right now the Left controls both Houses and the President’s office. Corrupt Socialists/Communists run the place. That needs to change.
Be careful.