is it oils turn to shine again

Gold is getting hammered tonight. Is this sustainable. Let's hope so (IMO) for oil stock holders and get the elk back into +ve cashflow by the 3rd qtr, just when we'll really need it.

Maybe time to load up if pressure mounts on the gold price. That's my take on it anyway and what I have been holding out for.

The cards may be falling into place in general terms, not specifically ELK

-Opec meeting to look at cutting production further
-POO has recoved from its lows (short term)
-Pressure maybe mounting on gold.

For POO to bounce back really strongly, would be good to see it bottom bounce for a while longer and really sap the investment out of it,thus allowing a fundamental cut in production. So when turning the corner supply is relatively lower and will take some time to crank back up to match demand.

Then ELK specific,
-Final Surtek results through and +ve
-Some good drill results
-Some JV's in place.

Sounds pretty straight forward really. Its been getting towards 2 years of waiting until now (longer for others hey Davo) so whats another 9 - 12 months.

Cheers all