A lot less than thought!. By the way, the numbered corproation can be found nowhere in the official Registers. I suspect the numbered were messed up! Another CORR-NR to follow??? GLTA. BaBe.

Eloro clarifies NSR royalty on Louvicort property

2011-09-14 12:57 ET - News Release

Mr. Thomas Larsen reports

ELORO CLARIFIES PROPOSED ROYALTY IN PREVIOUSLY ANNOUNCED ACQUISITION OF LOUVICOURT TOWNSHIP GOLD PROPERTY

Eloro Resources Ltd. has clarified the terms of the proposed royalty in connection with the acquisition of the Louvicourt township property, which were inaccurately described in Eloro's press release issued on Sept. 14, 2011.

The proposed net smelter return (NSR) royalty on gold production from the property is 1 per cent of the NSR, plus an additional 1 per cent of the NSR exceeding $2,000 per troy ounce, plus an additional 1 per cent of the NSR exceeding $3,000 per troy ounce. Using this sliding scale, the NSR is 2 per cent when the price of gold is $5,000 per troy ounce, and reaches 2.5 per cent when the price of gold is $10,000 per troy ounce.

The company regrets any confusion in connection with the inaccurately stated proposed terms of the property's royalty.