Ann: Elemental Receives Non-Binding and Conditional EOI, page-13

I often here about this value in small asx stocks. Take aside the sp, elm has failed to deliver on what most would consider to be a pretty good asset. All that is guaranteed is director wages and these new directors aren't changing that tune.

New management are basically proposing to sell the company for 20c a share to some other company, whilst an offer to buy the whole company for 30c is unacceptable. Is it unacceptable as the directors won't get a wage anymore if dingyi takeover went through.

what the fudge has management being doing for the last 5 yrs. elm has created no cash flows let alone Sh value.

I don't see this new management creating much value either, as they have no insentive. They will just make infrequent announcements about how things are progressing slowly and pushing back the project start date.

What a joke.