Overall I am relieved that it was a small issue at 17c to cover the start of phase 1 development expenses.
Just thought I would comment on the first sentence of todays equity raising announcement.
"The Board is very pleased with the results of the equity raising and is delighted to have the support of both new institutional and sophisticated investors.."
As opposed to............
"The Board of Elk Petroleum Limited today announced the appointment of Mr Chris Mullen as an Executive Director of the Company."
No pleased or delighted in that statement or in the entire announcement!
Amazing how the board view dilution as a wonderful thing while investors suffer, yet a potential company transforming director appointment is announced without even the slightest bit of positivity.
The best news that I have heard is that Chris will be at the AGM on Thursday to answer questions on both the Kakadu and Grieve developments.
DJ
ELK Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
