If Beehive's a goer, the party would then be over with a MEL tie-up. Even with a 3 shares to 1 offer that would still bring another approx 1.2 billion shares onto the register - mass dilution anyone?
Without MEL this company could easily go to 3 - 3.5 cents next year - pre-spud Beehive. If they need cash then offload 5% in a mini-farmout next year with payment upon spud. Anything that isn't mass dilution.
With success MAY could then be a smaller version of CVN.
I would take a punt here only on confirmation of Beehive drill but without the MEL merger.
High-risk option but isn't that what these penny stocks are all about?
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Beehive - Time to start getting excited?, page-63
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Last
3.4¢ |
Change
-0.002(5.56%) |
Mkt cap ! $117.9M | |||
| Open | High | Low | Value | Volume |
| 3.5¢ | 3.6¢ | 3.4¢ | $90.17K | 2.576M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 1208101 | 3.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.5¢ | 1749984 | 10 |
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| Last trade - 15.04pm 07/10/2024 (20 minute delay) ? |
| MAY (ASX) Chart |