Guys, what Hectobar is saying is absolutely right as potential is worth zip unless it can move forward. This applies to many stocks at present and is reflected in the current prices. There is always a large percentage that will not meet their potential, most of which is infrastructure. Fe in WA is one prime example. getting the infrastrucutre is their problem the resources are there, but not the railway to get it out.
ELK is the same, it has the resource, but not the infrastructure to extract it now. While CO2 is available ELK has got its hands on it. As indicated Rancher is having problems so it may not be able to use its CO2 and ELK could take advantage. However, this then raises the funding issue which is extremely valid.
ELK is fouranute that it is not a one project company. We are waiting for the uni results for chemical flooding for both both Grieve and Shannon. Again we can only speculate on this but it seems more likely than less likely for chemical flooding to be succesful.
But Hectobar, ELK looks more likely to get over the line than less likely.
ELK Price at posting:
35.0¢ Sentiment: ST Buy Disclosure: Held
