From the announcement:-"Funding will be applied to the...

From the announcement:-

"Funding will be applied to the acquisition of the Singleton Unit in Nebraska, making supplementary holding payments on ELK’s Nebraska CO2 purchase agreement, capex requirements for its projects, and payment of interest and general and administrative costs"

they should have put "administrative costs" first, since that is where it appears a big slice of your money will be going

I say that because I can see they have been spending about $867,000 on salaries and admin costs per quarter but, and this is a big but, in fact it's a massive but ....

but I can't see how much they are paying for the acquisition of the Singleton Unit in Nebraska

have a look at that announcement

Elk acquires the Singleton Unit in Nebraska

http://www.stocknessmonster.com/news-item?S=ELK&E=ASX&N=674796

where does it state the acquiring cost of the Singleton Unit in Nebraska??

if I am right, then this is bloody disgraceful - how can you acquire something "being a public company", and not tell shareholders what you are paying for it - especially if you are putting your hand out asking shareholders for funding

....... bloody disgraceful

but it doesn't appear to stop there - in the same announcement ELK state:-

Elk has the option until the end of 2014 to acquire the adjoining Singleton Heirs well and lease to the southeast of the Singleton Unit

but again "it appears" there are no details on the cost to exercise this option, so exactly what are the option terms

like I said above, if I am correct, then this is bloody disgraceful