The end of the beginning . . .

To Upandgo's question - are large shareholders buying ? Scroll back to the 6 April ASX announcement of change in interest. That documents purchase of an additional 17 million shares by Republic, between 21 Feb and 4 April 2018. Looks to me like the smart money is doubling-down.

To be fair to casual readers - some self-criticism here - I have been over-optimistically wrong about Elk's share-price rising multiple times now. That said, my prediction is that when a big move upwards comes . . . and that will come . . . the move will be sudden and sharp! As in some institutional investor deciding they want to own 5 or 10 per cent of Elk, then doing an off-market trade to buy at say 20 or 23 cents per share. For now, take advantage of the incredible opportunity to buy a stock below 10 cents a share that looks to be worth much more.

My assumption is that most holders of serious numbers of Elk shares - call that millions of shares per investor - will not be selling in dribs-and-drabs as the price moves up 1 cent or 2 cents. Anyone paying attention can see clearly that Elk is mispriced. For those - like me - who initially bought Elk years ago . . . I don't mind waiting 6 or 12 or even 24 months more to take meaningful profit.

Even when I "do" take some money off the table, I plan to ride along into the future, by retaining a sizeable stake. I will guess that Brad Lingo's team is just getting started with the deal-doing.

The end game isn't going to be "the market" finally waking up to the value created through Lost Cabin, Aneth and now Grieve production. That realization will be merely . . . quoting Churchill . . . "The end of the beginning".