In theory, such a large cap raise at 2c (with half a billion new shares) would reduce the (future) earnings per share significantly.
However, in reality, it has been just over three months since the cap raise and we are still at around 2c. They need to get a new source of funds this quarter. It may be borrowing, a new gas sale agreement, positive cash flow from the wells, or another cap raise (least desirable IMO).
15 days left to the end of January. Let's see if they can stick to the latest timeline
MEL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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