johnny,
I am playing the fringes of the CSG world. They are going to make a killing, imo.
MEL is particularly well placed being <200km to one of Australias biggest cities. The domestic possibilities alone, are quite exciting.
Origin, Santos, and BG are all cracking on with their programs.
Whats that mean? It means that around 30TCF of gas has been stitched up for export, and it will go to export. That means higher prices and better margins for those left behind like MEL. But we are not considering being left alone - MEL has been developing its own substantial LNG plans.
MEL HAS A RESOURCE THAT CAN BE COMMERCIALLY EXTRACTED, AND IN A VERY ENVIRONMENTALLY ACCEPTABLE MANNER. THATS JUST NOW, WE STILL HAVE FURTHER UPSIDE COMING.
What I am looking for in MEL is a catalyst to leverage us to that upside. A strategic partner seems very logical to me. Someone who is willing to invest and get us to the next level. The market is not appreciating MEL, and the share price is not a reflection of the value in the company.
For us to raise capital now from the market it would kill us with massive and unnecesary dillution. Any cap raising would have to be modest; but what would be the point. Where is it going to take us? We can see the bigger picture, but I think the market needs to get a precise vision of when (and how) we are going to get there in order for the market to start appreciating the value.
More waiting for us long termers I think, but still plenty of good to come.
Happy Easter.
SF
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Last
0.4¢ |
Change
0.001(14.3%) |
Mkt cap ! $5.790M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.4¢ | $754 | 188.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 12765502 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 14531096 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 12765502 | 0.003 |
12 | 31475499 | 0.002 |
6 | 59703690 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 14531096 | 12 |
0.005 | 5954721 | 6 |
0.007 | 100002 | 1 |
0.009 | 80000 | 1 |
0.010 | 1000000 | 1 |
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