Be interested in why you think so @xdect12
Glennon have been the top shareholder and major debt provider for MEL for some time now. On the back of that position they would know more about MEL's prospects than any other shareholders. With this knowledge the have just co-invested a further $500k. If Odin-2 is a duster that $500k will evaporate along with all the other shareholders equity.
All of us, Glennon included, are taking a bet on Odin-2 being successful. The fact that Glennon took up 50% of the placement says to me that they have confidence in Odin-2. Obviously, as @Fatporka said, it's a calculated risk, but it's a risk Glennon thought was worth taking.
If Odin-2 flows MEL will actually be genuinely cashflow positive which opens up options for them to then develop Odin-3, restructure debt, remediate Vali etc.
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.413M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 17201844 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 7214191 | 11 |
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| Last trade - 16.12pm 16/06/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
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