I'm interested to know if there might be other interest out there. 66c is dirt cheap for ELM- high grade and extensions open on 3 sides, the new Dougau area- don't underestimate this guys. Large high grade Potash resources are very attractive to the big miners- I heard BHP was invested in Ethiopia next door but I dont think the majors should be ridden off. This 3 months exclusivity locks ELM to Dinggy, but it will flush out other parties and even though ELM can't deal with them, they can still offer and wait till the 3 months expire.
Approval will happen, no doubt there- its just a matter if enough holders accept this low offer and dinghy end up with a wonderful asset for cheap. Worse case, what happens if ELM end up in a situation where minority holders need to be "mopped up" and Dinghy decide to buy up on market. Seen it before and the SP goes up.
K2P Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
