The company's present actions suggest there is not much hope on the horizon.
With the next farm out payment from Origin due in July they'd still have about $14 million dollars so why the rush to raise a couple of million dollars, destroy the share price and heavily dilute shareholders. They already have enough money for the NZ farmin.
Do management think it's better to get the money while the can? MEO have been savvy with their capital raisings. Is there worse to come?
MEO Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
