Im counting on a favourable result from Kakadu. Given that Andy gave away a 50% share it is fair to assume that zero is currently attributed to this asset in the SP.
Realistically it could be worth 10s of millions of dollars to ELK if it is productive. With every $1m = 1 cps then if it is productive it is feasible ELK could double in price even before we know the funding details of Grieve or workovers at Ash Creek.
This is a very safe entry point and potnetially a great ST term trade.
DJ
ELK Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
