"The Company remains funded for near term activities into Q1 2024 and is in receipt of regular production revenues from Vali and Odin operations. Following discussions with relevant stakeholders, including its other loan note provider, Metgasco is confident that if any further funding be required in 2024, this will be able to be met in a substantially non-dilutionary manner"
- We have revenue from Vali and Odin to use as security for new finance. - Glennon have not defaulted/terminated their facility (and more importantly MEL are talking to them) - Any further funding will be substantially non-dilutionary
It will be a lot easier for MEL if they only have to re-finance the KB facility.
MEL Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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