Ann: Annual Report June 2017, page-3

Hi Elcorp, Doesn't make for great reading, if something of substance isn't announced soon I'd say shareholders have a problem.
Of interest the current management since 2014, have now issued shares and borrowed cash totaling $14.11m with one drill program to show for it. Admittedly $2.2m was for the balance of tenements from DAU, but still you can't tell me that this is a board that is working in the best interest of its shareholders.
I'd say they will be trying (or at least Peter will) to have any CR done and a least a drill program started prior to the AGM, as I can't imagine that there is any spin you could put on the current BS progress of the company to shareholders that would sit very well, although it would appear that most aren't prepared to question management either!
One classic was the travel expenses $211k, does the chairman have a private jet? I also see Doyle's wasn't itemized in there but I bet that is a fair part of the $232k in 'Other expenses'.
I would love anyone to find another ASX mining company that has this debt loading/cash burn were management spend this amount of shareholders money funding their lifestyles!