Unusual for a top shareholder to buy 4.7m shares on market given the number of shares on offer (takes him up to nearly 20%). IMO, a deal must have been attempted but ELK may have declined or the conditions were deemed unacceptable. ie. the cash was there for them but the Board most definitely felt IMO it is not needed assuming the SP will increase within a set timeframe given the likely timetable of events.
IMHO, ELK is also currently highly unusual from a technical perspective given the volume and earlier spike.
I'd suggest the cards may be falling our way.
No-ones getting mine.
17c would have been a nice entry. LOL
ELK Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
