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20.0%

0.6¢ metgasco ltd

I totally agree with your thinking about what MEL needs. $5m...

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Mitchdon

686 Posts.

355

03/04/24

10:56

Post #: 73163792
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Originally posted by boysy1: ↑

mitch that assumes KBC are good for it in the first place.

we know the JV have to commit to a well to meet their drilling commitments in weeks not months.

raising now for odin2/3 makes sense in the sense of odin2 is a failure they have another roll of the dice funded.

With vali and production now down to a level in which production is not paying wages and admin they will need to raise to simply keep the lights on.

Keeping KBC in any equation is kicking the cam down the road at our peril look at what they have done to MEL and Ven in the space of a few months.

wouldn’t be surprised to see an equally dilutionary CR of MEL say a 1:1 issue at 0.5c would raise $5m enough to bugger off KBC and fund O2/O3 and enough working capital for 12 months.

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I totally agree with your thinking about what MEL needs. $5m would set MEL up and get them focussed on getting Odin up and running.

It just comes down to where the funds are going to come from. There are +/- for each option be it KBC, new debt, CR or any mix of the above.

We all want the same thing progress without to much dilution along the way. Really needs to be sorted out this month.

MEL Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.6¢		Change 0.001(20.0%)		Mkt cap ! $6.383M

Open	High	Low	Value	Volume
0.4¢	0.6¢	0.4¢	$12.67K	2.535M

Buyers (Bids)

No.	Vol.	Price($)
13	27537828	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.6¢	6041334	6

View Market Depth

No.	Vol.	Price($)
13	27537828	0.004
6	13791686	0.003
3	15600010	0.002
2	45500000	0.001
0	0	0.000

Price($)	Vol.	No.
0.006	6041334	6
0.007	1666666	1
0.008	1987724	5
0.009	2000000	1
0.010	3000000	2

Last trade - 16.10pm 16/05/2024 (20 minute delay)


Last 0.5¢			Change 0.001 ( 0.00 %)
Open	High		Low	Volume
0.5¢	0.5¢		0.5¢	325913
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