Sure it does.
The valuation is bogus and fraudulent. There are no valuable tailings piles in Russia that can be reprocessed at a profit. If there were, it would have been done when both gold and copper were much, much, MUCH higher in price. And for that to have happened, you would have to somehow assume the prior operators were completely incompetent and left massive amounts of valuable (and ridiculously easy to obtain) minerals in their unbelievably huge tailings. That is not only illogical, it is not true. In fact, those tailing piles have NEGATIVE value due to their environmental liabilities. No sane person or company would even touch them since they would then be liable for ALL the extensive and expensive environmental cleanup responsibilities. Which is why they just sit there year after year and are able to be used for penny stock mining scams like ELGL year after year. That is all they can be used for since there are absolutely no economically recoverable minerals in them.
This is just a run-of-the-mill mining scam. Right on top of their old farming scam with obviously fake and fraudulent financial statements.
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