I think it’s fair to say the SPP has not gone as expected having been already extended twice, will they open up the SPP to allow holders to oversubscribe that may be the next move by the company before fronting up to the market around what they have actually raised and how the balance of 02 costs will be paid.
I’m sitting on the sidelines of the SPP for now, i don’t believe they will raise enough cash and will need to place at 0.4c or lower to fund the difference.
MEL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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