MAY 3.13% 3.3¢ melbana energy limited

Ann: Trading Halt, page-20

  1. 422 Posts.
    lightbulb Created with Sketch. 41
    this CR means no large upfront cash, if any, from the farmout, disappointing.
    the CR could also mean a cornerstone investor willing to give a large chunk, maybe on a convertible note with strike not too much higher than the SP now.
    could also mean a placement to soph insto/investor and CR to keep shareholders happy at 1.8c
    we could be over 2.5B shares on issue after this CR
    I don't see anything positive on this ann or CR
 
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