Just remind yousrself of the buying of the Directors; however, a placement will come soon enough IMO to keep them on life support to keep ELK remaining with a very tight registry with only 62m shares on offer.
The cash on hand is approx $2m - not too bad with the last raising almost 3 years ago. They've done extra-ordinarily well on the smell of an oily rag.
Uluru looks like it has potential.
When the oil price returns with the improvamenert in the global economy, hopefully ELK has completed their homework well enough to take full advantage. I still believe she has the potential to be $5.00 plus within 3 - 5 years once she strikes hard whether through chemical flooding or through the numerous exporation strategies she has.
The possibilities are endless.
With these types atm, the share price becomes not the concern, only the strategy in place and she has a good one.
ELK Price at posting:
14.5¢ Sentiment: LT Buy Disclosure: Held
