After consuming its fair share of the 11 million $ on studies, models and reports so far, if Grieve can not stand up with the next $1 million, and the test well of the upper sands then all of what has been invested so far is a farce and no more should be thrown at it. If it does come up trumps then a JV would be a better but still maybe a last option on funding the flood, not to dilute and sell off the companies assets for a fraction of its "claimed" worth.
I think we have to be very careful that the directors/management are not just putting their hands in the pockets of others to just draw the whole thing out a bit longer - instead it is now time for them to stand and deliver on what they have waffled over for far tooo long.
If Grieve falls over ( which I personally dont think will happen )then the future of the company should be dealt with, not veiled behind this guise. So therefore my sentiment is I won't vote for it.
Cheers
Obe
ELK Price at posting:
11.5¢ Sentiment: None Disclosure: Held
