MEL is a small-cap gas driller with a large acerage in what appears to be a highly prospectable and potentially exceptionaly profitable area... the Clarence catchment. The Kingfisher exploration drill has hit gas over a substantial interval and the mkt is excited. This well could prove to be a company-maker and combined with the prospects in surrounding tenaments the potential is enormous. Currently everyone is poised over their computers waiting for news re gas flows/resource size etc. The company has been compliant in informing the mkt as news comes through, but i feel the delicate situation requires MEL management to do more. Rather than individuals phoning the company and posting info re possible dates/answers on HC (you can bet dozens of brokers are also calling) MEL should be proactive and publish a timeline re when/what tests/results are being conducted, and when we can realistically expect answers. It is also important that MEL call a trading halt should the results prove substantially different from what we have been led is likely. A 20minute suspension is insufficient and discriminates against thse holders not able to continuously follow in real time. We have already seen how this SP can leapt 25% or more in a few minutes and a repeat performance is quite possible. Hence, i urge MEL to provide a (best guess) timetable and make the job for holders and traders alike... a lot simpler.
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Mkt cap ! $7.237M |
Open | High | Low | Value | Volume |
0.5¢ | 0.5¢ | 0.5¢ | $22 | 4.468K |
Buyers (Bids)
No. | Vol. | Price($) |
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10 | 11708141 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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0.5¢ | 20532 | 1 |
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No. | Vol. | Price($) |
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10 | 11708141 | 0.004 |
8 | 15262019 | 0.003 |
5 | 16775010 | 0.002 |
3 | 46300000 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.005 | 20532 | 1 |
0.006 | 5907540 | 11 |
0.007 | 663797 | 3 |
0.008 | 1035051 | 2 |
0.009 | 80000 | 1 |
Last trade - 10.04am 10/07/2024 (20 minute delay) ? |
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