Yes, according to the quarterly published above, there were 549,649,424 shares on 30 June. So, 183,216,474 new shares will be issued. And, 61,072,158 new options will be issued at the strike price of 3.1c. If they are exercised, it will give an additional $1.893 million dollars.
MEL and VEN will fund the well, 50% each I think. I don't know how much the well will cost but I don't think the money from options will be enough. If they borrow money for the pipeline or pre sell the gas they can also use part of the cap raised.
MEL Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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