Hi Cara, My thinking is that first gas is now delayed until early Q4 2022, perhaps late Q4. VEN's announcement mentioned that they expected first cash generation from Vali in the first half of 2023 so let's say end June 2023. MEL raised $5 million in April this year and received a further $2.5million from AGL for dedicated Vali capital works. My thinking is that another cap. raise is a real possibility for MEL before first revenue mid next year. Combined, these points, in my view may see downward pressure put on the SP, although holders selling now will be making precious little profit, or no profit to move their funds from MEL, elsewhere, and return once first gas is achieved. Possible operational news from site may couch our SP to 3 cents but not much higher; hope I am wrong but just being pragmatic.
Kind regards OldGeo
MEL Price at posting:
2.4¢ Sentiment: Hold Disclosure: Held
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