Churn , churn ,churn . The volume is the key . The profit taking from the big capital raising and the exit of May will end soon .
A pre payment is probably the big price catalyst as it would remove the threat of a capital raise for the Vali / Odin development costs and get the 4 cent options in the money to fund the Cervantes well .
There would have been holders waiting for yesterdays announcement to sell down their over exposures from the credit raise . Those shares may be owned by holders now that have a longer term investment plan .
We have not been static and the graph looks good . The shares have moved up from 2.2 c not very long ago .
MEL Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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