Q: Hi guys, can you please provide any updates on if your responses/opinions have changed on ETL since end of last year please? Thanks!
5i Research Answer:
We wouldn't change much from our November answer. Since then, it has added some executives and more funding from Ottawa ($3.5M), and also announced upgraded measured and indicated reserves of 16M tonnes. It has acquired more land and got about $4.3M from the exercise of warrants. It has not reported full year numbers yet so financials are dated a bit from Sept. 30 (it had $17M cash at that time). It has had a nice bounce this year, up 44%, and there has been some net insider buying since November.