Thanks for posting this @boysy1
I respect anyone prepared to post numbers based off the sparse information we have have so far! You have me reaching for my own cashflows to compare. I have revenue of $1.36 m (your at $1.45m) and net cash of $332k. (your at $358k) So virtually the same.
They were close to breakeven last qtr but expensed $407k on development assets. If this expense is reduced this quarter, which it should be, then we should be green! As @stumpytrunks has pointed out this is "appraisal through production" so if MEL can generate a profit while doing this it's a pretty big achievement.
Even if it's only by a whisker, being profitable this quarter would be a line in the sand prior to moving forward with Odin-2, upgrade Odin-Vali connection or Vali remediation.
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