Elmag Backed Out?Not surprised to see that Unit financing was not fully subscribed, am surprised that Elmag did not take what they said they were going to take.
Company should definitely postpone drilling to later this year as the minimum.
What is the rush, times are tough if they cannot drill it for 2.5 million then cancel it and lose a few sections...no big deal.
Way better idea than being cash poor or financing at a dime.
I hope management took a 20% cut in their wages for 2016.
JMHO