Well as is typical of a company like Elk, one long on disinformation and short on useful operational fact sharing, the latest announcements are missing the useful information that anyone modeling this company might be interested in. For example, Mr Piccone resigned but did he resign with his 2 year retention clause being awarded which the Board only just pushed through less than 6 months ago. It was an outrageous offer at the time and an out of market retention clause to begin with, one approved by Brad, the guy who is again taking the reins, albeit temporarily.
There is a corporate governance issue at Elk, one not aided by Brad and his team's cursory contribution to fair and timely reporting. I suspect as part of the restructurin, if it gets completed, is that Brad and co are gone. An Asic review for inadequate and misleading reporting might facilitate this transition. Whether there will be any value in the equity subsequently is punters money.
ELK Price at posting:
3.6¢ Sentiment: Sell Disclosure: Not Held
