MST Access had a valuation of $125.1m on VEN at 29 October, which was prior to the successful run of drilling. Some of that valuation must be attributed to their cash and other projects but you can do your own maths there (remembering that VEN have twice the interest in the Vali/Odin project that we do). I don't think it's unreasonable to see MEL at close to $50m MC based on these results.
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