I reckon MEL were banking on raising capital on the back of this announcement, or perhaps the first gas one in a couple weeks.
They've stretched pretty hard to make $800k last from 31st Dec until now. They must be running on an oily rag at this point.
A really small $500k - $1m raise wouldn't be the most terrible idea
Or even a $1m secured loan from the partners at VEN/AGL, repaid via gas sales over 6 months - 1 year with say 10-20% interest. Yes, that's expensive interest however the 100-200k interest is much cheaper than the dilution from option 1.
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $4.592M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $7.276K | 2.910M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 6630498 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10843632 | 8 |
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| Last trade - 14.16pm 30/07/2025 (20 minute delay) ? |
| MEL (ASX) Chart |