The gas prices on the East coast have just had a massive winter spike . Might make it easier to get your # 5 , hopefully with a #6 attached , a pre delivery payment .
I too would like to see Cervantes slip well back into 2022 if it could be done . However if that cannot be done then we have to do what ever to participate in that well .
Two reasons Even if all the Valli and Odin information comes in and the Announcements #1 , 2, 3 and maybe even 4 and 5 push the share price so that the 4 cent options are well in the money , MEL will not see that money until the start of 2022 .
The second reason is that although imo the risked value of Cervantes is such that we have to partake in the drilling of Cervantes , the most likely result as others have pointed out is a disappointment . We are having a great run at the moment but we do not need another disappointment until after your #4 and #5 are done.
If possible I would like to see them drill Kinta before Cervates but again not before the #4 and #5 and the 4 cent options had run their course . Kinta should have a good COS based on the Santos discovery and what we have found at V and O . More reserves and higher production might give us a better GSA and higher revenue after start up . 5 well start up , whoopy doo .
MEL Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
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