So the shares have been distributed . BYE has good liquidity , any recent price weakness has been met by good buying support . The 20 million shares distributed are only a small percentage of the SOI . I don't think any selling will crash the BYE share price. BYE is patiently waiting to build up its cash before it embarks on its next round of drilling. Needs its next couple of wells to be producers.
MEL still has a lot of BYE's , hopefully they will be at a higher SP when MEL needs to sell some. Vaccines are going to help sentiment but it will be a little while yet before they have a big effect on the Pandemic that translates into higher actual oil use. Things are certainly moving in the right direction for MEL . The game changer would be a big Cervantes discovery .
MEL Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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