Nagarjuna - I don't know what it means, but you have to admit it gets the mind racing
I just think it's wrong to raise money on the basis of:-
"Funding will be applied (amongst other things) to the acquisition of the Singleton Unit in Nebraska ....."
and then not tell anyone what the acquisition cost is (at least I couldn't find any details in the announcement which ELK made)
If you are a shareholder and thinking of subscribing to the rights issue, how can you make an informed assessment - in my opinion you can't because you haven't been provided with enough information
it's also my opinion that better lines of communication have to be established, the ELK management team has to do more to communicate with, and keep shareholder adequately informed - especially if it wants money from them
I'm talking about things like the option ELK has until the end of 2014 to acquire the adjoining Singleton Heirs well and lease to the southeast of the Singleton Unit - what are the details???
is another funding coming up at the end of 2014 - I would want to know before I subscribed to this current rights issue
ELK management may be planning to make full disclosure on the above mentioned items at a later date, if that's the case it seems like a strange way to go about things to me
they would have completed a due diligence before deciding on the acquisition and if it's in the best interest of shareholder why not make the information available now
let's face it, the share price needs a boost, so why would you hold back good news if you had it ! I can't make sense of it, can anyone else??? ______________________________________________________
No doubt wayword can see a lazy $1 or $2 in the short term, come on wayword where are you ... we all need some "glass half full news" ....... last tickets fellows - "toot ... toot"
ELK Price at posting:
9.0¢ Sentiment: None Disclosure: Not Held
