I have been advised by management that they are unable to buy at the present time as it is a closed period for them. They are currently meeting with bankers.
Also, if Allana can get 65% debt financing then I hope ELM can trump that.
"Third, Allana Potash has already got a $US 20 million financing deal in February 2012. This means it can complete the feasibility study without any problems. Allana Potash currently has approximately $US 58 million in cash on hand. By the time that project financing will be received, it is estimated that 35% of the project financing will be done by equity financing. The other 65% of project capital will be acquired by debt financing."
Vale appear to be very keen for Potash according to this article. I wonder if they are having a close look at ELM: