read it and weep: elk 2012 annual report, page-3

What I didn't expect to see in the Annual Report was the delays for Co2 and chemical injection for Grieve and Ash Creek respectively. Latest Company presentation only a few weeks ago showed that they were targeted for November 2012. Annual report now states Co2 injection will be delayed by 4-6 weeks and Chemical injection will now only happen in early 2013.

Monetization of Grieve pipeline has also been delayed from this month to Dec 2012.

Unfortunately, old habits die hard. More patience required unfortunately.

Nevertheless, still believe Elk continues to be significantly undervalued at 27cents.

All the best to all holders. .