As of yesterday, 16th April, Riversdale Independent directors...

As of yesterday, 16th April, Riversdale Independent directors continue to unanimously recommend that shareholders REJECT the Hancock offer
Take Over update
1- RIVERSDALE NOTES HANCOCK HAS EXTENDED ITS OFFER UNTIL MONDAY 29 APRIL 2019
2- HANCOCK HAS DISCLOSED A 38.2% INTREST IN RIVERSDALE SHARES
3- ONLY 1.9% ACCEPTANCES DISCLOSED SINCE THE FOUNDERS PRE COMMITMENTS
4- THE INDEPENDENT DIRECTORS CONTINUE TO UNANIMOUSLY RECOMEND THAT SHAREHOLDERS REJECT THE HANCOCK OFFER BECAUSE IT MATERIALLY UNDERVALUES RIVERSDALE
5- THE INDEPENDENT EXPERT HAS CONCLUDED THAT THE HANCOCK OFFER IS NOT FAIR AND RESONABLE AND THAT A FAIR MARKET VALUE IS $ 2.56 - $3.05 PER SHARE
6- RIVERSDALE CONTINUES TO ENGAGE WITH A NUMBER OF STRATEGIC PARTIES AND IS WORKING TOWARDS PROCURING SUPERIOR OFFERS IN THE COMING MONTHS
7- RIVERSDALE CONTINUES ITS CORE FOCUS ON SUCCESSFUL DELIVERY OF THE GRASSY MOUNTAIN PROJECT

There is a lot more to the update, these are just some dot points
Some may ask why I keep referencing Riversdale, and in my opinion, it sets a real precedence on what value Elan can actually be, so I am a very keen observer on the Riversdale outcome. Clearly its worth a lot more than the offer, and that offer is governed by the long term medium coke price, which is a low ball number, and Hancock will want a bargain
Atrum accelerated 2019 drill programme, 20,000m, will undoubtedly increase our JORC resource significantly, and the last test results shoe its a Tier 1 HCC project in a favourable jurisdiction. Slowly our ducks are lining up.
Cant answer why its trading down here, maybe old holders getting out, but there is a lot of new holders that have real belief, Regal for 1
Paragon Funds is another who in February put out a performance summary, which paints a very positive outcome for Atrum, and expect to make multiples on their investment. Their words not mine
Lets hope they are correct