Hi Spec I think you answered your own question. 2017 was a year...

Hi Spec

I think you answered your own question.

2017 was a year of base building, 2018 will be the year of consolidation as production steps up , refinancing the balance sheet, and starting the execution of the Aneth PUD development.
I would expect a slow sp increase as the milestones are hit .

IMO the market wants to see the plan they have articulated move forward, but the main stumbling block being the high debt . When it becomes apparent the the free cash being produced (especially when refinancing is achieved and if the POO stays around current levels ) is significant, we may see the shackles come off a bit.

Remember that the market may be low at around A$120 million, but the enterprise value when including the debt and preferred equity is closer to A$ 400 million, you could argue that ELK right now is fully valued .

Cheers

Dan