This could be true which is why I’ll be buying on this weakness. However I still think the oil and gas sector could be poised for more growth going forward. A lot of companies have rallied hard and if materials are moving up in price then demand for energy should follow suit soon. Mel’s very close to its 52 week low and really as gg has pointed out, their asset backing is pretty much the market cap at the moment that’s why I wonder if I’m missing something. There is no doubt in my mind that keybridge and Wilson will try and play games with this SP and wash out holders wanting to make a gain by keeping the price low and absorbing all of their shares before some news or a pump materialises. I wonder what their average price is too. Does the recent cap raise significantly bring their holdings down in price?
MEL Price at posting:
2.7¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)