I'm honestly a bit lost with it, strategically. It's effectively a highly dilutive cap raising at 4c. There's no guarantee that we'll hit the strike price prior to requiring additional capital - so may need to dilute through an additional raising, and then will still have a 4c overhang. I just hope they have a strategic ace up the sleeve, otherwise it feels like a mistake to me. Either Cervantes is a dud and the strike price won't be hit easily, it it is a success and the SP will be much higher than 4c....just don't get what you'd lick in dilution at that price....with no guarantees of not having to raise more capital in addition.
MEL Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)