I'm NOT asking MEL to cut costs. MEL have already cut costs. Have a look at Sept/Dec/March quarters versus June quarter. (for Staff, Admin. and Corp.) They are down 50%. I wish MEL provided some commentary around this. Is it sustainable? Is it a one off? Is it being forced on MEL by SH's or financiers?
As you know Glennon have consistently shown support for MEL. I am guessing that some of the conditions of that continued support may be for MEL to get their house in order by maximising revenue from the wells they have and minmizing costs.
Sorry if I haven't expressed that better before. What do you think about the reduced costs?
MEL Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
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