re: Ann: Director and CEO Share Acquisitions ...
Pleasantly surprised to see some directors buying on market. Honestly thought the recent upward movement in the share price was simply a set up for a capital raising but now with directors adding to their holdings, maybe not. At least not immediately anyway... What it does imply though is that there are no market sensitive announcement due to be made any time soon since directors were able to buy shares.
However, I still feel another capital raising is inevitable especially since Denbury have just stated in their latest quarterly presentation that Grieve is now likely to commence production in LATE 2015. This would be the second time the project has been delayed as we were supposed to commence production in late 2014 then early 2015 and now late 2015. Disappointing as Denbury normally complete their projects on time or ahead of schedule. Hopefully the are just lowering everyone's expectations so they can surprised to the upside.
Company needs to get its act together to secure some form of revenue stream otherwise there's going to be a lot more dilution in our share holdings.
All the best to fellow long termers.
ELK Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
