As I have been writing, I have been wondering around the price action, especially not able to break that 27 zone. I wasn't sure of any particular reason, hence was waiting how it pans out.
Looked at the Quarterly report released yesterday for any clues.
One thing stood out, though I am not totally sure. Cash in bank just over 17m, last quarter spend around 11.5m. So roughly 1.5 quarter money left. So a CR could be there in next few weeks or months, but very likely this quarter, although they could stretch it to early next quarter. There was an Investor Presentation 1 week back, sometimes these are done for fund raising. So if any CR is there shortly, those in the know could be holding it back so that CR is not at a higher price. All these are speculation only. There are other ways of funding as well. Just a thought.
General discussion (MEI), page-2537
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Last
9.9¢ |
Change
-0.001(1.00%) |
Mkt cap ! $224.8M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 9.9¢ | $405.3K | 4.055M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 38543 | 9.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 980535 | 13 |
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| MEI (ASX) Chart |