my last conv with MEO was in March - a key topic I raised was the likelihood of a Cap raising, which that individual would not be drawn on, there was however a sense of surprise/bemusement in that persons voice - and somewhat patronising attitude in responding to my specific line of questioning. response being along the lines of well 'thats how our business model works' - I suggested the model rapidly needed to be re-thought - esp given woeful track record of drill results and consequent destruction of enterprise value, meaning any cap raising would require a massive dilution of existing shareholders stock to raise any meaningful capital etc. etc. anyway I am pretty concerned as to how they intend to fund the enterprise going forward farm outs are desparately needed, particularly if you already hold
I was invited to call MEO again - and will do so in next 2-3 weeks
nb: think about how many shares they would have to issue and at what price to raise $20M? 400M at 5c ?
cheers
MEO Price at posting:
7.0¢ Sentiment: None Disclosure: Held
