Hey everyone, I don't follow MEL but I do follow BYE.
I note that MEL have farmed in to Bivouac Peak at a cost of USD1.3m and now SM74 at a cost of USD4.4m (or more if necessary in both cases). Drilling will commence for both later this year.
The last Quarterly showed that MEL had cash equivalents of about A$6m, with another A$1m to come on July 22 as repayment of the convertible note. That's A$7m total, less other operational expenses over the quarter. We can assume also that they will get another $1m from BYE on Oct 22.
Does anyone know how MEL intends to fund the USD5.7m+ (roughly $A8m) owed to BYE? They appear to be sailing very close to the wind unless they intend to sell off some other assets, which seem to me to be exclusively a shareholding in BYE. BYE is not a particularly liquid stock, so good luck trying to sell a quick few million.
Thoughts appreciated.
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Mkt cap ! $3.674M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 16630498 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 10381720 | 9 |
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| Last trade - 16.21pm 25/07/2025 (20 minute delay) ? |
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