general meeting - financing - share price

Hello ELM-Friends.

A few points I noticed the last days:

- Appendix, no one is reading it...

8 Mill. options (strike 20 cent) were converted into shares. 750T from a director. Approx. 1.5Mio. cash is goin on ELMs account. Thats very positve. If you read the quaterly you will notice that cash is very rare... Now they are financed till the end of the year.

It is possible that the shareholder which converted the options is now selling a few in the market. I would be doin the same.

- General Meeting at end of November

20 Mio. share placement is coming in first quarter 2011
expecting a private placement to funds and other prof.investors - no rights issue or SPP.
In expectation of the next drilling results and a jorc compliant resource estimation at the beginning of 2011 this placement is 5 times oversubsribed and ELM is fresh cashed up with 30 to 40 Mio. AUD.

So let the share price take a deeper breath to climb after that in higher regions.

cheers
Schuko11