Its quite obvious why ELK has been belted lately. The rise of...

Its quite obvious why ELK has been belted lately.

The rise of oil prices to a 9 month high with further increases expected, add to that the prospect of increasing production, JV, cash on hand. Its obviously not your average everyday run of the mill stock. Cant be a safe place to be invested when oil prices are increasing.

I just went through a presentation by SSN that listed all the Aussie juniors in the US on a graph. SSN was the second cheapest on a production versus market cap. Although the graph did not show names of the companies the cheapest stock was valued around $15 mil with good production. Having looked through the list only 1 company had the equivalent market cap and production, that is ELK.
Another reason to sell, who wants the cheapest stock and what if it increases production it will get even cheaper. Much better to buy an overpriced, overamped company with no cashflow, no cash and moose pasture for acreage.
Cheers