Rogar,The Directors purchased $57,000 not $30,000 worth of...

Rogar,

The Directors purchased $57,000 not $30,000 worth of shares and even though this may not seem like a lot, they ARE purchasing at .27c and .30c levels.

As to ELK being a dog. I say to you "every dog has its day" and "every stock has its price". The fact is that ELK has been pushed down so far by negative sentiment that its market cap is a lot less than its intrinsic value. People are starting to recognise this and investors seeking value will start seeing the opportunity in ELK.

It is not wise to judge a company's future share price performance based on its past share price performance.

Their is a lot to take into consideration when determining the value in a company and where you think the share price will head.

Let's see where the price goes within the next 12 months and revisit this post then. Until then I believe ELK to be grossly undervalued and will be looking to pick up even more shares on any further weakness. I HOLD.