on paper, it's a really really smart deal. the problems are:
1. it's not yet on paper 2. of the interesting conditions, ELE needs to deliver on a regular basis. that has shown to be quite a challenge despite repeated assertions that logistics critical equipment has been acquired and now fully functional. if my maths is right they have delivered only 30kt in the last 12 months against a modest ambition of 350kt/annum 3. the minions keep resigning. in the tail end of today's announcement the cfo has followed the md
IMO : ele is terribly vulnerable about now because all of the lenders (new and old) each have a gun in their hand from which they could prosper quite well ..
still trying to work out who the villains are
ELE Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
