Mel is now fully funded for the next 2 years with 261.2 million options likely to be excised over the 2 years:Total to be raised if all options excised $9,398,989 (not including $5,000,000,000 raised today)>
- 160,000,000 options @.025 from todays funding agreement = $4,000,000
- 66,102,543 listed options @.045 expiring in December 2024 = $2,974,614
- 33,875,000 unlisted options @.045 expiring in December 2024 = $1,524,375
- 2,000,000 unlisted options @.045 expiring in December 2024 = $900,000
IMO all options will be well and truly in the money by year end, if gas production goes to plan, seismics are done and a drilling program is scheduled for 2024.
Ann: $5m debt facility secured to deliver Odin gas to market, page-23
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