MCE burned through approx $1.3M in 2H20 and $2.5M in 1H21. Given that it was probably the worst conditions the company ever faced, it's actually not that bad. (Not sure where you got $8.5M from). This investor may have sold near the bottom of the cycle: This press release from Rystad is very bullish.
Hopefully the balance sheet is strong enough to handle large orders without the need to raise at these price levels. Large orders are very likely in the next 1-3 years after many years of underinvestment.
MCE Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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