below cash backing, page-8

if ELM goes to $5+ shortly which I expect it will and even if KRM stays at $1.70, the company will have liquid assets of ~$21.6 million with 32.5 million shares on issue which would give a cash backing of ~66c.

What a shell!

It wouldn't surprise me if Mark Jones isn't in a hurry to vend a project in with the way both stocks are going. Why would he when he can maximize the returns on the 2 stocks OKJ is holding now and then look at a quality project later when full value has been attained from ELM and KRM..