There is every chance that the options will come into play and will fund cervantes if things go well . I would like an underwritten rights issue with oversubscription rights at near the current share price and no placement . I doubt that the underwriters would be left with a big shortfall if any and without the placement overhang the share price much more likely to advance over 4 cents by the end of year to get the options home.
Present share holders should be rewarded . We stayed loyal when we could have abandoned ship .
Would MAY take up their allotment ? If not , oversubscription rights would chomp that up quick enough because they will be a bargain . We all know that anticipation of this capital raise has suppressed the share price , not the exploration results.
MEL Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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