Advanced discussions suggests a near term outcome yet here we are 65 days later without a peep. This would suggest minimal progress has been made surely if they had something concrete such as a terms sheet they would have disclosed an update to market. No doubt the Ven shenanigans are a distraction and won’t be helping any funding discussions given they decided to raise capital and not pursue debt.
Current Odin production rate that’s a disgrace they have provided no context as to why production has fallen and has it in fact stabilised.
They are running out of time to finance their respective portion of O2 let alone any other near term costs.
MEL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
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