Nov 26 (Reuters) - Elemental Minerals Ltd ELM.AX :
* Elemental receives non-binding proposal
* Receipt of non-binding proposal from summit private equity in connection with
proposed equity investment in co of at least US$40 mln
* Says summit and the company are discussing a proposed new strategy
* Investment is intended to ensure that company is sufficiently funded through
to commencement of construction of flagship potash project
* Source text for Eikon ID:nASX9zS2gh