EKA in a trading halt as we speak, pending details for a...

EKA in a trading halt as we speak, pending details for a proposed project acquisition and details of a proposed capital raising.

This is EXACTLY what i've been looking for, for months, and have repeatedly said so on this forum.

As for whether the deal is good, only time (a few days) will tell, but this was the direction I Was hoping for.

Under current assets it was only a matter of time before EKA doubled in value imo, but adding value on top of that 'doubling' would have been hard to achieve.

Recently AUT/TXN have acquired land and grown even larger, whilst EKA have been left in the dust a bit. And being the smallest company, you'd think EKA would have the potential to make the most difference in regards to an asset.

As for the size of the asset, it's hard to say: EKA's fayette county acreage was something along the lines of 1.1 million cash for 765 acres. With increased activity in the Fayette Region, you'd expect us to pay a bit more for a similar sized land holding today than we did back 8 or so months ago. Additionally that Fayette Land was absurdly cheap, so maybe it was an off-cut that somebody else couldn't really utilize efficiently, hence the cheap sale.

I think the current cash flow would have been enough for a fairly decent acquisition, however the company might be trying to stockpile some of this in anticipation of a JV for the current Fayette County, but I'm thinking if this was the case they could have just bought this 'proposed acquisition' with current cash and cap-raised if a potential JV deal did come up.

So there is a possibility that this is something big, or it could just be another moderate-sized acquisition of around the 800 acre mark.

Either way even another 800 acres is a very handy addition to our holdings. Time will tell.