With Elissa's Sage Creek gold project being drilled and its Thor REE Project soon to be drilled, it's safe to say Elissa's management team has its hands full, but are more than capable, having several successes in the mining industry, from buyouts to production, under their belt. The company is also well-prepared financially as it currently has roughly $2 million in its treasury - a substantial amount for a company with a market cap under $8 million.


At the beginning of this report we listed our 6 criteria for selection of Elissa, with management firmly at the top. You can't win a horse race without a good jockey. It doesn't matter how fast or how strong the endurance of the horse is, if your jockey is driving him in the wrong direction, you will finish dead last every time. Elissa's management team is truly elite.


Management Team

Head Geologist: Mel Klohn - LP Geo, Director

45 years senior geological management experience - MSc (Geology), Qualified Person

Yamana Gold - former Vice President and Project Manager (10 years)

Exxon - former Senior Exploration Geologist and Research
Geoscientist (25 years)

Red Hill Energy (now Prophecy Resource Corp) - former Director and Senior Geologist


Mel was the former VP of Yamana and one of the founders. During the early/lean days at Yamana, Mel even covered some of the expenses with his own credit card. This is before most investors had ever heard of the now top 10 largest gold producing company on earth. This man knows a thing or two about geology and after meeting him on 3 different occasions to discuss Thor, we are happy that he is at the helm of this operation. His conviction runs deep and he's not looking for just a paycheque - he wants to find another massive discovery.


If a company is going to be successful it has to have a money man, or a few members of the team that can readily raise capital. For Elissa, this man is Arnold Armstrong, its Chairman.

Chairman: Arnold Armstrong

40 years resource industry senior management experience

Red Hill Energy - Founder (now Prophecy Resource Corp)

Silvercorp Metals Founder

International Enexco Founder

Admitted to British Columbia Bar 1950


Mr Armstrong founded Silvercorp Metals, the lowest cost silver producer in the world.


Mr. Armstrong "orchestrated the rise of Pyramid Mines, which discovered the massive lead-zinc deposit at Pine Point in the Northwest Territories of Canada in 1965. Pyramid was so widely held that the discovery set off a major flood of investment into the entire resource sector, and started a claim-rush that had every piece of land from Pine Point down to the U.S. border staked" according to Casey Research.


Armstrong has always held his shareholders in the highest of regard. Casey Research reported that, "He duelled with the taxation department of Canada's federal government for three years over the sale Pyramid Mines to Pine Point Mines. His legal expertise and focus on detail helped him put together an unstoppable case. Eventually, Revenue Canada (now the Canada Revenue Agency) gave up, and Arnold distributed every penny of the proceeds directly to his shareholders."


He is an accomplished Canadian businessman and the former Chairman and CEO of SKN Resources, which became Silvercorp Metals Inc., now trading under the symbol SVM on the NYSE and TSX. In case you aren't aware of how big a story Silvercorp has become, it is the world's lowest cost silver producer.


Mr. Armstrong's old coal company, Red Hill Energy, merged with Prophecy Resources a few years ago and has just gone into production in Mongolia (announced on October 14th, just a few days ago). This is yet another example of Mr. Armstrong's ability to take junior companies all the way into production.


Armstrong's companies have 1.5 billion tonnes of Thermal Coal, 1 billion lbs Copper, 345 million lbs Nickel, 207 million lbs Vanadium and 5.8 million lbs of Titanium under management. Current Armstrong group of companies' partnerships include Cameco Corp and AREVA - the largest and second largest producing uranium companies in the world.


This is a man who can raise money in good markets or bad.


President /CEO: Paul McKenzie

20 years resource industry management experience

Red Hill Energy (now Prophecy Resource Corp) - Founder and former transitional President


Mr. McKenzie is as driven a CEO as you are going to find in Canada. He lives, breathes and works mining and investing. He is acutely aware of everything his company has and what it needs to do in order to maximize value. We spent a considerable amount of time with him down at the Thor Project in Nevada and can tell he truly believes in what the company can achieve with its Thor Project. He has worked directly with Mel Klohn since his days at Red Hill Energy. They were both very successful working together in the past and hope to find that same success with the Thor REE Project.


We Found What We Were Looking For

Our team wanted to identify a company that had come way off its highs and was still well financed. Elissa hit a high of $0.70 cents per share in June of this year and now trades at just $0.26 per share. Its all-time low is $0.19 per share.

The company's largest financing, which primarily included insiders, was done at $0.20 in March.

We've been monitoring Elissa's trading patterns for months and have waited until this weekend to introduce it to you for obvious reasons. The timing of this introduction coincides with our thoughts on the overall market outlook.