Well King you can laugh all you like but a few cents at this low...

Well King you can laugh all you like but a few cents at this low price equals a large percentage loss so perhaps you can forgive anyone who doesn't share your optimism.

The SPP you mention was years ago and under a different management. Last year they conducted a SPP at 26 cents which represented a 11.5% discount, now this should have been a big flop but MEL were lucky that either BOW or ESG were bought out (cant remember which one at that time) and the SP took off.

So I'm curious who can possibly be satisfied with managements decision to raise capital at this price, the LT holders probably need about 35-40 cents to break even assuming they have averaged down.

Also where has that 21 million gone from the capital raised 12 months ago?