....OELs sale of Galoc was a classic example of what can happen..sold at the price peak...buyer paid on asset and potential growth/discovery...price collapsed and there was no growth/discovery.....OEL had learnt from previous experience where an offer was made for another asset and they were too greedy and wouldn’t sell and decided to extract every drop over time ..think the offer was $10m ...not that long later production dropped off and think they then sold it for $3m or less.
MEL Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
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