Ann: MEL Investor Presentation June 2024, page-32

I don’t want the SP lower as a holder but I do not have enough confidence the SPP will succeed and the current work programme to be funded to throw more money at this at the moment.

plenty of time before any new cashflow is generated from O2 and plenty of placement/SPP shares to be floating around so I expect any positive or negative news will get sold into regardless so picking a substantial position up after the fact shouldn’t be too hard.

I believe in the MEL story however they need to improve the state of the balance sheet and production before I become overweight in MEL. No one of late has made any money from the numerous CR aside from the respective underwriters …..