- Odin 1 will be the game changer and is in production now. - Supports assumption of $8gj at Vali and $12gj at Odin - Production is $4.60/GJ (will rise as Odin increases production) - $150k capex to bring Odin 1 online (MEL's share)
MEL won't break even this month but the impact of Odin 1, in production for 10 days, is already clear. Given a qtr of reasonable production Odin could push MEL to breakeven and into profit.
As @boysy1 points out that is all unless they decide to drill Odin 2/3. Would be nice to bank at least a little cash before we spend more!
@OldGeo do you think that given that they are limiting flow from Odin 1 already they wouldn't drill Odin 2/3 until they upgrade the connection to Vali?
MEL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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