Good to see another Farm Out is in the offing...also the cash figure is understated by approx $1.4m..
” Shareholders should note that the Company’s other financial assets, including Exchange Traded Bonds (yield investments) of approx. A$1.4 million as well as the Company’s shareholding in Byron (approx. A$11.7 million as at 30 June 2019) and options over Byron, are not included in the Company’s cash position disclosure above. Subsequent to the Quarter, as outlined above, the Company, in accordance with its commercial agreement with Byron to finalise financial exposure to the SM74 drilling program, has exercised its 10 million options over Byron shares at a cost of A$2.5m.
MEL Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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