First post in a while and I thought I will share my thoughts on...

First post in a while and I thought I will share my thoughts on a somewhat dissappointing AGM.

The funniest part of the whole AGM was Bob Healy stating that ELK were on the lookout for a new CEO in 12-24 months time. This was obviously news to Bob Cook who looked up in surprise at the comment. Another member joked afterwards "that was the longest notice period ever given to a current CEO"

Another highlight was when I reminded the board that at last years AGM, the board was confident that ELK would be EPS positive on the back of the Ash Creek development so I enquired what went wrong. Bob Cook said that they hadn't validated the results properly and therefore the oil that they thought were measuring turned out to be 'muddy water'

Matt Healy was a notable absence and Neil ran the meeting with a great style and I am more confident that Neal can hold management to account to avoid the mistakes of the past.

Several of the 'sophisticated shareholders' got testy when other shareholders questioned the size of the fund raising. Bob Healy and his mate were defensive and attacked Davo22 when he continued that line of questioning.

Several shareholders asked other tough questions that were diplomatically avoided by the board.

ELK plan to make regular ann of progress of Grieve which should support an increasing shareprice which is the only thing we can look forward to in 2012 as none of the other projects are likely to provide any share holder value in the short term.

Davo22 asked about the 40m shortfall and whether the board would place those shares. Neal avoided that question....

Niobarra would appear to be hold, the Hereford project sounded marginal and Ash Creek needs a further $12m to be developed.