There's no incentive for anyone to buy MEO shares when they'll be issuing a 100 million shares at 20% below the present price. Especially when the only thing happening will be drilling a low grade marginal prospect in NZ.
At the AGM this year I hope someone can ask them to explain the need for a Collins Street office address. Why they need a large technical team and why management pay themselves so much? These are excessive expenses yet they destroy the share price to raise a couple million dollars.
MEO Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
