I think BYE are pretty ruthless and will do as much solo as possible...but they also won’t want to dilute too much or risk too much dilution...the fact Directors lend money to the company rather than raise shows they don’t like dilution.Frankly BYE and MEL from what I can tell so far are much more in harmony with my thinking than OEL. MEL had a crack at a buyback...but set the bar too high buying around 6c..I thought and said it was too high at the time....history has proven they could have spent the whole budget at 5- 5.5c...not a big deal...hope they remain open to further buybacks rather than selfishly and greedily having to spend every cent on the next roll of the dice.
MEL Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
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