I can't make any comment for the 1.24m share on sale at 34c...

I can't make any comment for the 1.24m share on sale at 34c other than the same comment I have made above "Trying to create fear! Why wouldn’t sell it slowly at better price? I think they don’t want the price going up."

This is a good sign in my experience despite the sp is going down. I think someone is going to make an offer at a low price, maybe at 77c which managmenet didn't accept before. It may turn to a hostile takeover later on. We'll wait and see.

I think someone wants to buy ELM at around $200m. I think ELM's value is at least $450m-$500m (which is about $1.50 per share).

Management is in weak hands, M.Jones and Garry Thomas side is not doing anyhting to protect to value of their shares either. The company is in a weak position. Therefore, the takeover punters have a great advantage to swallow this company easily. $100m is nothing for anyone who wants to but ELM shares now at 33c sp!!!

The chart below shows how the Smart Money behaves before a takeover. They push the price down, then they put the takeover bid at a little bit higher level than they pushed it down from. (There are many other examples of the same situation in our market)