If I was on the board I'd be looking to merge with a company with cash and longer term prospects. Use their cash to drill Cervantes and provide buffer, then use Vali cashflow to develop what the other company holds. On the flipside - could easily do a quick placement or debt deal if needed and then develop the Cooper from cashflow.
On the Vintage front - on paper the pre sale covers the vast majority of Vali costs and other ATP2021 work is slated for 2H. Basically leaves Cervantes and CO2 for Ven....which is easily covered by existing cash and the cap raise....the quantum of debt seems overkill.
Could be lots of moving parts, or none...
MEL Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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