Ann: Two Wells Online as Vali-3 Commences Gas Production, page-71

Hi OldGeo,

I meant the options are handed out as a sweater. Keybridge still gets 10%pa for lending the money. The debt is secured. There is 1% establishment fee and 5% early redemption fee. On top of that, Keybridge gets 96 million options at a strike price of 2.5c. The number of options given is more than Keybridge's holding of MEL shares!

So, seems like Keybridge is selling their shares because they have plenty of exposure through options.
YMEL claims 'Debt was secured on attractive terms following an independent debt advisory process and structuring on the part of the company'

@Lilow
This is what MEL said:

'Debt was secured on attractive terms following an independent debt advisory process and structuring on the part of the company'

I wonder if they could have made a deal with Glonnon only. There is one Keybridge director on the board and I wonder what impact that had as well.