Gday Binbin Elk reminds me of government.....you have 1 guy doing the work (chris) and 4 guys who after reading his recommendations end up flipping a coin over which project to invest in becouse they all have different ideas.........they then outsource the projects.........
Do you really think, we need 4 guys to compare notes on whether they think surtek have got the chemical flood right when they know stuff all (compared with Surtek) about chemical flooding.....so funnily enough I think 3 directors would be plenty!!! so that solves your problem of looking for directors.....
"To vote Davo22 and DJG001 as directors to replace Andy Rigg and Tony Strasser?"...sad thing about it is based on current form it wouldnt take much to raise the standard, although Andy does put out a nice glossy investor presentation.... I guess ultimately no one is going anywhere without Bob Healey deciding to send them....
"...on the verge of potentially proving the Chemical Flooding will work..."....I would suggest they are a long way from proving anything as that will take approx$30mil to get phase 1 up and going....maybe close to getting a final report and investment decision...By now Surtek would know 90% of what they need to know.... Surtek-- "...not a matter of if but how.." .....the core is basically little more than working out the exact chemicals they will use...if we cant do a deal at this stage?????.....when we do make a final investment decision is it going to be JV (we cant do one with 90% of the info) or is Andy going to decide to do a 1;1 rights issue + significant debt to fund phase1...massive dilution + the risk of debt...
"...only if they fail yet again..."...if it is 3 strikes and your out, they should have been walking long ago.... problem is at somepoint one does need to draw the line.....I agree the timing is bad....question is how close are we to getting grieve happening????and when/if grieve is up and running will ELK have 500mil shares on issue??????? remember Grieve has been around for years.......shareholders have been very patient so far and what do we get, a massive kick in the guts.....
Its easy to blame the current crises, however all the more reason that ELK needs to stand on its own rather than sucking precious capital out of investors...fact is oil price is strong at $50, they keep telling us Grieve is valuable so where are the deals??? if you beleive that no one is interested then you must beleive the asset is poor......becouse there is plenty of money out their for good projects!!!
