Weird trading stock this one
If Cervantes hits then MEL have about $400m of oil in the ground net
If it doesn't hit then they still have cashflow coming from the Vali & Odin gas fields later this year
With VEN trading at almost 3x the market cap of MEL, I can only assume that MEL is having some trouble with cap raise flippers taking their 10% profit. Can't really blame them, it's a crap market to try and trade in so a guaranteed 10% is great, but the upside I would think is much greater.
Feels like these 2 companies are being valued like they're exploring in Mali, not Australia.
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 (20min delay)
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.674M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 16630498 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10381720 | 9 |
View Market Depth
| Last trade - 16.21pm 25/07/2025 (20 minute delay) ? |
| MEL (ASX) Chart |
Day chart unavailable