You were right. Not happy about this raise, was hoping for more of Madden with gas prices low. Will be reviewing my position as the need to raise capital at this stage was not flagged.
The only real positive here was at least the raising was at 7.3 cents... having said that, considering there will need to be further raisings down the line if they continue their plan to purchase EOR assets, the dilution here and later on will limit the share price appreciation potential.
Cheers
Dan
ELK Price at posting:
7.3¢ Sentiment: Hold Disclosure: Held