If you re-read your post you will see that the first part of your post is in complete conflict with the following part.....on the one hand you say that global credit has frozen, companys are holding out until the storm is over and then go on to say that ELK should proceed full steam ahead with Grieve......how may I ask is ELK going to fund the $30mil needed for phase1 if the global lending is frozen and companys will not invest until the storm is over.....at current rates and assuming your above scenarios ELK can maybe scrape by until the end of the year before the company completly collapses (baring exploration success, which aside from the upper sands we have no money for)......so you better hope that lending is not as frozen as you make out (I dont beleive it is) and that companys are willing to invest in quality assets (I beleive they are) and finally that we do in fact have quality assets!!!!!!!!! or the storm clears in a hurry and we get back to the sweltering heat wave that was the oil boom of last few years....besides, historically oil prices at the moment are great and anyone who would base their low case scenario economics around $100+ oil has no right to be running a company!!!!!! Cheers
ELK Price at posting:
9.5¢ Sentiment: None Disclosure: Held
