It's a hard one, as the outcome of the Cervantes drill will be known before then (based on current timings) - and that may have a material affect on the share price. On paper the JV are aiming for a plateau rate of circa 12mmscfd, which is around 4.5 PJ. I can see them netting around $5-7 per GJ after costs (but contingent on pre payment and finance expenses)...so call that ~$24m gross, ~$6m net to MEL. Apply whatever ratio you like to it...but I can see that justifying circa $50m market cap, which is around 7cps prior to option conversion.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.674M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 16630498 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10381720 | 9 |
View Market Depth
| Last trade - 16.21pm 25/07/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
Day chart unavailable