Hey Dan, I am keeping an eye on ELK, as I like Brad and the...

Hey Dan, I am keeping an eye on ELK, as I like Brad and the success he had with Drillsearch.
However.... all these nice broker reports do mention that ELK currently has just $800k in cash available. Yes, they have drawn down the debt facilities (multiple ones) to the hilt, so.. for me it makes it hard to really know if they are going to need to do one more raising? I am also a bit confused as to why they did not raise a bit more when they did the Aneth deal? ($22m seemed quite a small amount compared to the total price tag).

I know ELK is getting closer to bringing its next project online, but... the buy side always seems to look week and struggles to push out above the recent price of the capital raising. Then you have the likes of Pattersons writing reports because they want ELKs business. Anyway, good with ELK, the debt is a big bug bear for me, but... it has huge potential if everything goes right. I won't be a buyer until they have at least confirmed that the pipeline test goes well for Grieve. Then..... maybe.