Q: Can you provide an update. It’s beginning to look like dead money
5i Research Answer:
ETL has been on a steady downtrend after peaking at the beginning of last year. It is pre-revenue, burning through cash, and operating at a loss. When reporting Q1 earnings the company stated, "It may need to use part of its cash reserves or proceeds of any offering of securities to fund the business." This was on May 24th, and the stock dipped further on fears of dilution for shareholders. The Clearwater project is interesting and has significant potential, however, it is hard to predict when it will begin commercial production. We are fine moving on given the uncertainty here.