The annual accounts they release soon will probably show why we keep getting hit with such poor decisions (my opinion)
All goes back to the capital raising, the resultant inability of the ELK share price to move upwards due to the tsunami of shares now acting as resistance (despite the market pumping) and therefore the loss of the chance to recapitalize and fund the development of the assets at a fair price ie. above 40 cents...
Who is principally responsible for these decisions... A. Rigg.
Until Mr Healy and the other larger holders are prepared to do something to remedy the situation though all we can do is eat it ... and hope Grieve is funded more reasonably.
ELK Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
