Australian Market down 1.7%, yet ELK up strongly and the sell side looking extremely thin.
The BLM Environmental Approval must be close as they did say by the end of July. As soon as this is approved, they just need to complete the pipeline before beginning to inject Co2.
The approval by the BLM alone should re-rate ELK to over 30 cents. Just take a look at the Strachan Report completed in 2011 which attributed a risked value of over 40 cents to Grieve alone....
Patience will be rewarded with this one.
ELK Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
