Who knows, but i hope it continues. Possibly people were holding off for the new year to jump in as injection was pushed back until Jan.
I am also interested in the "new acquisitions" as stated in the CR ann. It sounded like the intention was immediate, could something be happening in the background?
From the ann
“The capital raising is to provide funds to further Ash Creek operations and also to fund the pursuit of new acquisitions in line with our growth plans for Elk. These value accretive opportunities exist now and management wish to be in a position to conclude negotiations which are unlikely to wait for cash flow from either the Grieve or Ash Creek EOR project’s production. Importantly Elk is in a growth mode.”
ELK Price at posting:
28.0¢ Sentiment: LT Buy Disclosure: Held