Excellent post and most readable from many perspectives.
One thing that I would share my view on when you stated:
" HPerhaps you will even buy on market even if the share price is above the SPP price, just to drive home the point.
But that does not give the company money to drill, and so your actions are going to be self fulfilling, and the company will then have to bring in a partner who will squeeze the hell out of it, grab control, drill Rozella and make a motza. "
From my perspective I have been buying at 20c on market and have got my fill. I won't be subscribing to the SPP.
Sure, I paid commission by way of brokerage but it was the price of a few packets of cigs.
My position is not based on being disloyal or even a reaction to what I consider a problematic capital raising in terms of quantum and time. I have the shares I want at the SPP price and don't have to tie my funds up for weeks and I can react if markets change dramatically.
I support MEL and expect that those that subscribe will do well, but honestly, I am not here to fund the company at the expense of my flexibility.
In this respect, if the share price jumps heaps I will sell some and jump into the SPP, if not, all good.
Again, excellent post and great to see you back.
Best to all
MEL Price at posting:
20.0¢ Sentiment: LT Buy Disclosure: Held
