The CEO of MEL reckons a success at Cervantes may push the market cap up to $50-100 million. MEL's share is 4.6 million barrels of recoverable oil (not bad for a small company) which should have a low cost of production. The drilling is expected to start Q1 2021.
I don't see any timeline for Odin. May be its not a priority at this stage. If they spend the money and if its not a success, then they will have less money to spend on other projects. VEN is already short in cash.
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Last
0.2¢ |
Change
-0.001(20.0%) |
Mkt cap ! $3.665M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $360 | 179.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 11172257 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10182794 | 11 |
View Market Depth
| Last trade - 10.09am 25/06/2025 (20 minute delay) ? |
| MEL (ASX) Chart |