It is all about keeping the Wolf from the door . Making sure they keep their jobs . What are they going to do for working Capital ?
Paying 20% over the Market Price for BYE shares then raising capital at what price ??? opens the BOD to potential litigation and their biggest SH just might do it . Disregard BYE's increase in SP today . It most likely would have fallen today on the basis of the cost over run for the well and the drop in the POO. It was only the option deal that saved it . The Announcement is couched as a good deal for MEL , imo the opposite is the case , it is a very good deal for BYE and the Market has recognised that .
If the relationship with BYE was so good why could they not have just extended the option date .
MEL Price at posting:
2.9¢ Sentiment: None Disclosure: Held
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