MEL only a few years ago had such promise. I remember them drilling and locating possible conventional gas. They promised to run flow testing etc as it was touted as the biggest discovery in 100 years. I remember waiting for 12 months and nothing ever happened.
The previous management was woeful at news releases. I remember them releasing full technical details on wells which meant nothing to most people without putting anything in plain english. They lost so much SP value in this alone.
I remember each raising was to propel MEL into possible production and nothing ever coming of it.
Once upon a time they seemed to be a small go getter company who were reliant on and loyal to shareholders. Now they don't seem to give a rats ar$e about who they burn as long as they are getting paid.
I suspect we are going to lose a huge shareholder base after this capital raising. I know I have now found better investments elsewhere. Even cash is better than MEL, at least you get paid for your time in Cash, not a promise that seems to vanish in thin ear after each capital raising.
MEL as I see it has been very poorly run over the past 2 or so years in particular.
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Mkt cap ! $5.790M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 12765502 | 0.3¢ |
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Price($) | Vol. | No. |
---|---|---|
0.4¢ | 14531096 | 12 |
View Market Depth
No. | Vol. | Price($) |
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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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