My question is:
Does this mean that they do not anticipate selling the oil pipeline next month, which i think could be valued at about and at least $10m (from memory)?
If the funds are only for ongoing costs, ie without some other motive eg Ash Creek acceleration, then I will be a bit disapointed at the move and its dilutionary effect.
Makes the big sell at 30c last week, also seem a bit suss.
elk petroleum seeks a$5 million at 25 cent, page-6
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