Agree re the horse and cart here @stumpytrunks, assuming the horse is gas sales and the cart is costs!! Mel needs to increase gas production and cut costs.
Bringing O2 online and stimulating O1 will increase production. VEN is funded for this and MEL's contribution should be in the $100's of thousands not millions. Glennon and other SH would be more likely to drip feed that funding.
Do you have any thoughts on what has happened to Staff and Admin and Corporate costs? They have halved this quarter compared to the previous 2 qtrs. I hope it is our largest SH and lender putting the brakes on costs?
I believe there is value in MEL aiming to be genuinely break even. It is far better than MEL continuing to leak cash and woud give them time to see how the JV will play out.
MEL Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)