See What Three Analysts Think of This Silver-Tin Giant's Resource Update

1. Eloro Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eloro Resources Ltd..
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Street Smart Average Price Target Formula

Street Smart Consulting has attained an average price target and rating for this company from our system's formula. The system calculates an average of all analyst target prices, which are originally in Canadian or U.S. dollars, then converts them to both dollar amounts. For the recommendation, it selects whichever rating (Buy, Sell, Hold, etc.) appears most frequently among analysts. When there's a tie for the most common recommendation, all tied ratings are included.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Disclosures for Sphene Capital, Eloro Resources Ltd., April 24:

Disclaimer: This research report has been produced and issued by Sphene Capital GmbH in the legal jurisdiction of the Federal Republic of Germany. It is issued only to persons who purchase or sell transferable securities for their own account or for the account of others in the context of their trade, profession, or occupation. This publication is provided for general information purposes only. It is for the use of the addressees only. It may not be copied to or distributed to any other person in whole or in part without the written consent of Sphene Capital GmbH. Any investment possibilities discussed in this publication may not be suitable for certain investors depending on their specific investment target or time horizon or in the context of their overall financial situation. It cannot be a substitute for obtaining independent advice. Please contact your bank’s investment advisor. The distribution of this publication in certain jurisdictions may be restricted by law and persons into whose possession this publication comes should inform themselves about and observe such restrictions. In the United Kingdom this publication or a copy of it is being distributed only to, and is directed at (a) persons who have professional experience in matters relating to investments falling within article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the “Order”) or (b) high network entities falling within article 49(2) (A) to (D) of the Order, and other persons to whom it may be lawfully be communicated, falling within article 49(1) of the Order (all such persons together referred to as “Relevant Persons”). Any person who is not a Relevant Person should not act or rely on this publication or any of its contents. This publication does not constitute a solicitation to buy or an offer to sell any securities or financial instruments mentioned in the report and shall not be construed as constituting an offer to enter into a consulting agreement. Neither this publication nor any part of it establishes a basis for any agreement or other obligations of any kind. Sphene Capital GmbH, its subsidiaries/affiliates, and any of its employees involved in the preparation, do not accept any responsibility for liabilities arising from the publication and/or use of this publication or its contents nor for damages arising either directly or as a consequence of the use of information, opinions and estimates in this publication. Under no circumstances shall Sphene Capital GmbH, its subsidiaries/affiliates, and any of its employees involved in the preparation, have any liability for possible errors, inaccuracies or incompleteness of the information included in this research report—neither in relation to indirect or direct nor consequential damage. Neither Sphene Capital GmbH nor its subsidiaries/affiliates, and any of its employees, guarantee the accuracy or completeness of information used for this publication and nothing in this publication shall be construed to be a representation of such a guarantee. Used information has not independently been verified. Any opinions expressed reflect the current judgment of the analyst who prepared this publication in conjunction with his/her occupational activity and may be changed pursuant to future events and developments. Views expressed do not necessarily reflect the opinion of Sphene Capital GmbH. Past performance of a financial instrument is not necessarily indicative of future performance. A future update on the views and recommendations expressed in this publication is not planned as of today. Timing of updates cannot be foreseen by now, however, updates usually follow the publication of financial data by the company. Sphene Capital GmbH reserves the right to change the views expressed in this publication at any time and without further notice. Sphene Capital GmbH may have issued other publications that are inconsistent with and reach different conclusions from the information presented in this publication. Those publications may reflect the different assumptions, views and analytical methods of the analysts who prepared them. Past performance should not be taken as an indication or guarantee for further performance, and no representation or warranty, expressed or implied, is made regarding future performance. This publication is being distributed by industry-specific news agencies and finance portals and by mail to interested professional investors, who are expected to make their own investment decisions without undue reliance on this publication. Bundesanstalt für Finanzdienstleistungen (BaFin) is the authority responsible for Sphene Capital GmbH. All share prices mentioned in this publication are closing prices of the XETRA Electronic Trading System or where unavailable closing prices of the local stock exchange, as of the trading day preceding the day of the publication. 

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Statements pursuant to § 85 (1) WpHG and Article 20 of Regulation (EU) No 596/2014 and Delegated Regulation (EU) 2016/958: This publication is based on information obtained from carefully selected public sources, especially suppliers of financial data, the publications of the analyzed company, and other publicly available media. Rating principles/Methodology/Risks: For the preparation of the publication, company-specific methods from the fundamental stock analysis were used, such as quantitative statistical methods and models, and practices used in technical analysis (inter alia, historical valuation models, net asset value models or sum-of-the-parts valuation models, discounted cash flow models, economic profit models, multiplier models or peer-group comparisons). Valuation models are dependent on macroeconomic factors such as currencies, interest rates, commodities, and on assumptions about the economy. In addition to that, market sentiment and political developments may impact the valuation of companies. Selected approaches are also based on expectations, which may change depending on the industry-specific developments without warning. Consequently, recommendations and price targets based on these models may change accordingly. Investment recommendations cover a period of twelve months and may be subject to market conditions. The expected price developments can be achieved faster or slower or be revised upwards or downwards. Statement on compliance: Sphene Capital GmbH has taken internal organizational and regulative precautions to avoid or accordingly disclose possible conflicts of interest in connection with the preparation and distribution of the research report. All members of Sphene Capital GmbH involved in the preparation of the research report are subject to internal compliance regulations. No part of the Analyst’s compensation is directly or indirectly related to the preparation of this financial analysis. Responsible for compliance with these arrangements: Susanne Hasler, [email protected]. Sources of Information: Part of the information required for this research report was made available by the issuer of the financial instrument. Furthermore, this report is based on publicly available sources (such as, for example, Bloomberg, Reuters, VWD-Trader, and the relevant daily press) believed to be reliable. Sphene Capital GmbH has checked the information for plausibility but not for accuracy or completeness. Analyst certification: This research report was prepared by the research analyst(s) named on the front page (the "Analyst”). Views expressed do not necessarily reflect the opinion of Sphene Capital GmbH or any of its subsidiaries/affiliates. The Analyst(s) is(are) solely responsible for the views and estimates expressed in this report. The author(s) of this publication certify that their views about the companies and their securities discussed in this report are accurately expressed and that they have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this publication. The content of the research report was not influenced by the issuer of the analyzed financial instrument at any time. It may be possible that parts of the research report were handed out to the issuer for information purposes prior to the publication without any major amendments being made thereafter. This report has been finalized on 24 04 2026 at 08:25 h. Last price at the time of completion: CAD 1.97.

Disclosures for Red Cloud, Eloro Resources, April 23:

Disclosure Requirement: Red Cloud Securities Inc. is registered as an Investment Dealer and is a member of the Canadian Investment Regulatory Organization (CIRO). Red Cloud Securities registration as an Investment Dealer is specific to the provinces of Alberta, British Columbia, Manitoba, Ontario, Quebec, and Saskatchewan. We are registered and authorized to conduct business solely within these jurisdictions. We do not operate in or hold registration in any other regions, territories, or countries outside of these provinces. Red Cloud Securities bears no liability for any consequences arising from the use or misuse of our services, products, or information outside the registered jurisdictions. Part of Red Cloud Securities Inc.'s business is to connect mining companies with suitable investors. Red Cloud Securities Inc., its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Red Cloud Securities Inc. may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services. Red Cloud Securities Inc. has prepared this document for general information purposes only. This document should not be considered a solicitation to purchase or sell securities or a recommendation to buy or sell securities. The information provided has been derived from sources believed to be accurate but cannot be guaranteed. This document does not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (e.g. prohibitions to investments due to law, jurisdiction issues, etc.) which may exist for certain persons. Recipients should rely on their own investigations and take their own professional advice before investment. Red Cloud Securities Inc. will not treat recipients of this document as clients by virtue of having viewed this document. Red Cloud Securities Inc. takes no responsibility for any errors or omissions contained herein, and accepts no legal responsibility for any errors or omissions contained herein, and accepts no legal responsibility from any losses resulting from investment decisions based on the content of this report. Company Specific Disclosure Details: Company Name: Eloro Resources Ltd. Ticker Symbol: TSX:ELO Disclosures: 1. The analyst has visited the head/principal office of the issuer or has viewed its material operations. 2. The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit. 3. In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer. 4. In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration. 5. An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly. 6. Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities. 7. A partner, director, officer, employee or agent of Red Cloud Securities Inc., serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer. 8. Red Cloud Securities Inc. is a market maker in the equity of the issuer. 9. There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer. Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.

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Disclosures for Cantor Fitzgerad, Eloro Resources, April 22:

Disclaimers: The opinions, estimates, and projections contained in this report are those of Cantor Fitzgerald Canada Corporation (“CFCC”) as of the date hereof and are subject to change without notice. Cantor makes every effort to ensure that the contents have been compiled or derived from sources believed to be reliable and that contain information and opinions that are accurate and complete; however, Cantor makes no representation or warranty, express or implied, in respect thereof, takes no responsibility for any errors and omissions which may be contained herein and accepts no liability whatsoever for any loss arising from any use of or reliance on this report or its contents. Information may be available to Cantor that is not herein. This report is provided, for informational purposes only, to institutional investor clients of Cantor Fitzgerald Canada Corporation, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such offer or solicitation would be prohibited. This report is issued and approved for distribution in Canada, CFCC., a member of the Canadian Investment Regulatory Organization (“CIRO”), the Toronto Stock Exchange, the TSX Venture Exchange, and the CIPF. This report has not been reviewed or approved by Cantor Fitzgerald & Co., a member of FINRA. This report is intended for distribution in the United States only to Major Institutional Investors (as such term is defined in SEC 15a-6 and Section 15 of the Securities Exchange Act of 1934, as amended) and is not intended for the use of any person or entity that is not a major institutional investor. Major Institutional Investors receiving this report should effect transactions in securities discussed in the report through Cantor Fitzgerald & Co. Non-US Broker Dealer 15a-6 disclosure: This report is being distributed by (CF Canada/CF Europe/CF Hong Kong) in the United States and is intended for distribution in the United States solely to “major U.S. institutional investors” (as such term is defined in Rule15a-6 of the U.S. Securities Exchange Act of 1934 and applicable interpretations relating thereto) and is not intended for the use of any person or entity that is not a major institutional investor. This material is intended solely for institutional investors and investors who Cantor reasonably believes are institutional investors. It is prohibited for distribution to non-institutional clients including retail clients, private clients, and individual investors. Major Institutional Investors receiving this report should effect transactions in securities discussed in this report through Cantor Fitzgerald & Co. This report has been prepared in whole or in part by research analysts employed by non-US affiliates of Cantor Fitzgerald & Co that are not registered as broker-dealers in the United States. These non-US research analysts are not registered as associated persons of Cantor Fitzgerald & Co. and are not licensed or qualified as research analysts with FINRA or any other US regulatory authority and, accordingly, may not be subject (among other things) to FINRA’s restrictions regarding communications by a research analyst with a subject company, public appearances by research analysts, and trading securities held by a research analyst account.

Potential conflicts of interest: The author of this report is compensated based in part on the overall revenues of Cantor, a portion of which are generated by investment banking activities. Cantor may have had, or seek to have, an investment banking relationship with companies mentioned in this report. Cantor and/or its officers, directors, and employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. Although Cantor makes every effort possible to avoid conflicts of interest, readers should assume that a conflict might exist, and therefore not rely solely on this report when evaluating whether or not to buy or sell the securities of subject companies. Disclosures as of April 22, 2026: Cantor has provided investment banking services or received investment banking related compensation from Eloro Resources Inc. within the past 12 months. The analysts responsible for this research report do not have, either directly or indirectly, a long or short position in the shares or options of Eloro Resources Inc. The analyst responsible for this report has not visited the material operations of Eloro Resources Inc. No payment or reimbursement was received for related travel costs. Analyst certification: The research analyst whose name appears on this report hereby certifies that the opinions and recommendations expressed herein accurately reflect his personal views about the securities, issuers or industries discussed herein. Definitions of recommendations: BUY: The stock is attractively priced relative to the company’s fundamentals and we expect it to appreciate significantly from the current price over the next 6 to 12 months. BUY (Speculative): The stock is attractively priced relative to the company’s fundamentals, however investment in the security carries a higher degree of risk. HOLD: The stock is fairly valued, lacks a near term catalyst, or its execution risk is such that we expect it to trade within a narrow range of the current price in the next 6 to 12 months. The longer term fundamental value of the company may be materially higher, but certain milestones/catalysts have yet to be fully realized. SELL: The stock is overpriced relative to the company’s fundamentals, and we expect it to decline from the current price over the next 6 to 12 months. TENDER: We believe the offer price by the acquirer is fair and thus recommend investors tender their shares to the offer. UNDER REVIEW: We are temporarily placing our recommendation under review until further information is disclosed. Member-Canadian Investor Protection Fund: Customers' accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request.

StreetSmart Research™

Eloro Resources Ltd.

(ELO:TSX - ELRRF:OTCQX - P2QM:FSE)

Consensus Average Rating & Price Target

Price targets are based on the original currency and converted to US and/or CA using current exchange rates at the time of publication.

Rating: Buy / Speculative Buy

Target: US $7.40 / CA $10.43

How Avg Analyst Ratings Are Calculated

04/24/2026

Peter Thilo Hasler – Sphene Capital

Price at Time of Rating: US $1.40 / CA $1.97

Rating: Buy

Target Price: US $14.75 / CA $20.80

04/23/2026

Ron Stewart – Red Cloud Securities

Price at Time of Rating: US $1.42 / CA $2.00

Rating: Buy

Target Price: US $3.90 / CA $5.50

00/00/0000

Matthew O'Keefe – Cantor Fitzgerald

Price at Time of Rating: US $1.42 / CA $2.00

Rating: Speculative Buy

Target Price: US $3.55 / CA $5.00

Eloro Resources Ltd. (ELO:TSX; ELRRF:OTCQX; P2QM:FSE) is starting an extensive expansion drilling program at its Iska Iska Project in Southern Bolivia, aiming to further explore and expand the high-grade Silver-Tin (Ag-Sn)-Polymetallic mineralization.

The company announced on May 7 that it has contracted Major Drilling Group International Inc. to deploy two diamond drill rigs to the site, with plans to introduce a third rig within the next three months. This ambitious campaign plans to execute 40,000 meters of diamond drilling across approximately 75 holes, building upon the findings of a recent definition drilling program that identified mineralization over a 1.4-kilometer strike length.

Chief Executive Officer Tom Larsen noted the campaign is a significant step in advancing the Iska Iska Project following the release of a successful updated Mineral Resource Estimate (MRE) in late April. He highlighted that the upcoming drilling phase aims to augment the Indicated Resources to bolster the planned Preliminary Economic Assessment (PEA).

The recently updated MRE revealed substantial mineral quantities, including an Indicated Mineral Resource of 85.17 million tonnes with a grade of 40 grams per tonne (g/t) silver, totaling 109.53 million ounces (Moz) of silver. Additionally, it reported 1.03 million tonnes of zinc at a 1.21% grade and 0.6 million tonnes of lead at a 0.71% grade. The Inferred mineral resources were also significant, comprising 945.43 million tonnes at 8.5 g/t silver, which includes 248.6 Moz of silver, 4.72 million tonnes of zinc at a 0.47% grade, 1.5 million tonnes of lead at a 0.16% grade, 290,000 tonnes of tin at a 0.03% grade, and 1.21 Moz of gold at a 0.04 g/t grade.

A significant aspect of the Iska Iska Updated MRE is the strategic distribution of resources relative to the optimized pit shell, the company has said. The proximity of the Inferred tonnage to the existing Indicated Resource blocks, which share the same structural controls within the optimized pit shell, suggests a high potential for conversion through targeted drilling. The 2026 expansion drilling program is strategically designed to close the drill spacing required to reclassify these tonnes, potentially elevating the total Indicated Resource and materially enhancing the project's PEA economics.

¹From the following analysts' ratings, Street Smart came up with an average rating of Buy / Speculative Buy, with an average target price of US$7.40 / CA$10.43.

Peter Thilo Hasler — Sphene Capital

The company's recent update to the Mineral Resource Estimate (MRE) for the Iska Iska silver-tin polymetallic project in Bolivia represents a significant turning point in the project's lifecycle, according to Sphene Capital Analyst Peter Thilo Hasler on April 24.

The update transitions the narrative from purely exploratory to a credible development-stage polymetallic system, the analyst said. Notably, the introduction of an Indicated category and significant tonnage growth are positive developments. However, the real value lies deeper in the enhanced geological confidence, continuity of grade, and metallurgical improvements, which collectively boost the economic prospects of the project.

Iska Iska remains a high-risk, high-reward asset with considerable potential upside, dependent on the successful progression of drilling, metallurgical enhancements, and economic assessments in forthcoming studies.

Due to an increase in the number of shares, Hasler adjusted the firm's price target slightly to CA$20.80 from CA$21.80, which is a 956% increase from the price at the time of writing. This valuation is based solely on an in-situ assessment of the higher-grade portion of the Santa Barbara Breccia Pipe at the Iska Iska project, excluding all other assets. Sphene maintained its Buy recommendation for Eloro Resources shares.

The updated MRE reveals Indicated Resources totaling 85.17 million tonnes with a grade of 40 g/t Ag, and Inferred Resources of 945.43 million tonnes grading 8.5 g/t Ag. Consequently, the total resources now surpass 1 billion tonnes combined, marking a transition from exploration uncertainty to geological continuity — a critical factor often driving valuation increases in the mining sector.

Ron Stewart — Red Cloud

Eloro's recently unveiled updated MRE for Iska Iska marks a significant advancement in the project's development, according to an April 23 note by Red Cloud Analyst Ron Stewart. The updated MRE introduces a maiden indicated resource of 85 million tonnes at 75.2 g/t silver equivalent (AgEq), totaling approximately 206 million ounces AgEq. Additionally, the inferred resources have expanded to 945 million tonnes at 22.3 g/t AgEq and 0.03% tin, encompassing 678.2 million ounces AgEq and 290,000 tonnes of tin. This update represents a 54% increase in total mineralized tonnage and a substantial enhancement in resource confidence, with the indicated resources showing a 65% higher grade compared to the high-grade portion of the 2023 MRE, Stewart reported.

Positioned centrally within the resource pit shell, the high-grade indicated portion (40 g/t Ag and 75.2 g/t AgEq) is expected to alleviate any concerns regarding the deposit's quality, while its size, shape, and continuity underscore Iska Iska's status as one of the top silver-dominant development projects globally, Stewart wrote. The indicated resources are meticulously defined based on a dense 50x50m drilling grid at the core of this extensive mineralized complex, where higher grades are linked to structural conduits facilitating hydrothermal fluid flow. The inferred resources are categorized into silver, zinc, and tin-dominated domains surrounded by a broader halo of medium and low-grade polymetallic zones. Notably, the total contained silver equivalent metal has risen by 35% from 656 million ounces to 884 million ounces (Moz), although tin has been excluded from the AgEq calculation to align with reported figures.

The tin content in the deposit has more than doubled to 290,000 tonnes, solidifying Iska Iska's position among the world's top 10 tin deposits, the report noted. Recent advancements in metallurgical testing have also improved tin recovery rates to 59%, further boosting its economic potential. Additionally, ore sorting techniques, including dense media separation (DMS) and X-Ray Transmission (XRT), demonstrate that over half (53.4%) of the tonnage can be removed while still recovering 91.9% of the silver and lead and 76% of the zinc into the process feed.

"ELO currently trades at an EV/oz AgEq of US$0.18/oz versus 10 peer companies averaging over US$1.93/oz," Stewart said. "The low EV is attributed to the low average grade of the previous MRE. We believe by demonstrating a smaller, higher-grade core zone, the updated MRE has positioned ELO for a re-rating."

Stewart maintained Red Cloud's Buy rating and a price target of CA$5.50 per share, a 175% return at the time of writing.

Looking ahead, key catalysts for Eloro include the anticipated release of a maiden Preliminary Economic Assessment (PEA) in Q2/26, further mineralogical and metallurgical testing, ongoing drilling to expand and define high-grade mineralization, and the implementation of an underground bulk sample program, Stewart wrote.

Matthew O'Keefe — Cantor Fitzgerald

The updated MRE for the project significantly enhanced the resource classification, upgrading a substantial portion from the Inferred to the Indicated category and expanding the total mineralized envelope (M&I+Inferred) to over 1 billion tonnes from the previous 670 million tonnes, according to an updated note on April 22 by Cantor Fitzgerald Analyst Matthew O'Keefe. The focus of the Indicated resource is on the higher-grade silver core area. An ongoing 40-kilometer drill program aims to further expand this higher-grade zone, which is expected to support a larger Indicated resource update and a PEA by the end of 2026.

Key details of the updated MRE include:

• The total Indicated resource now stands at 85.17 million tonnes, with grades of 40 g/t silver, 1.21% zinc, and 0.71% lead. This amounts to contained metals of 109.53 Moz of silver, 1.03 million tonnes of zinc, and 600,000 tonnes of lead. On a silver equivalent basis, the Indicated resources total 220 Moz at 78.38 g/t AgEq.
• The total Inferred resource comprises 945.43 million tonnes, grading 8.5 g/t silver, 0.47% zinc, 0.16% lead, 0.03% tin, and 0.04 g/t gold. This equates to contained metals of 248.6 Moz of silver, 4.72 million tonnes of zinc, 1.5 million tonnes of lead, 290,000 tonnes of tin, and 1.21 Moz of gold.

"Eloro is funded to continue advancing Iska Iska with additional drilling and metallurgical work to deliver a resource update and PEA toward the end of 2026, focused on a higher-grade silver-rich starter pit area," O'Keefe said.

In terms of valuation, there has been a strategic shift to emphasize silver, O'Keefe said. Previously, a blended silver equivalent (AgEq) and zinc equivalent (ZnEq) enterprise value/resource approach was used. Now, a silver equivalent multiple is applied exclusively. The valuation now assigns US$1.50/oz AgEq to the Indicated resource and US$1/oz AgEq to the Ag Dominant domain in the Inferred category, under the assumption that a significant portion of it will successfully be converted to Indicated. This adjustment has led to a revised target price of $5 per share, up from the previous $4.50 per share, the analyst wrote. The Speculative BUY rating is maintained.

Ownership and Share Structure²

About 17% of Eloro Resources Ltd. is owned by insiders, approximately 32% by institutions, and around 2% by strategic investor Cartier Silver. The remainder is held by retail investors.

Top shareholders include Crescat Capital LLC with 14.23% and CEO Larsen with 6.2%.

Its market cap is CA$231.16 million with 118.54 million shares issued and outstanding. It trades in a 52-week range of CA$1.01 to CA$3.42.