The finance package takes away a lot of speculation about the immediate funding of the company. The potential options dilution is not excessive and the option exercise price being 25% above the current share price is a positive on a here and now basis.
The capex spend by MEL has been lacking transparency big time but hopefully we will see some clarity around cash flows in the not too distant future.
Ann: $5m debt facility secured to deliver Odin gas to market, page-5
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