Yes, thanks Gemboy for this * podcast. Rightly so, Ken mentioned that MEL want to self fund future drilling at Vali/Odin from production revenue so the company does not have to go back to shareholders after first revenue. If MEL does have to go back to shareholders after first gas / revenue to fund ongoing development drilling as Vali-1ST1, Vali-2 and Vali-3, Odin-1 decline, we are quickly in a going out-of-business model. MEL must have a robust business plan and financial model that reassures shareholders that as the balance sheet ebbs and flows but overall strengthens over time, shareholder dividends can be expected.
Other posters on the MEL forum know a whole lot more than I do on how to make sure a small company like MEL runs profitably, grows and can indeed reward shareholders. Delivering of project milestones in a timely manner must be a given. Continued uncertainty on these, is a recipe for..........we wait in hope.
Kind regards OldGeo
MEL Price at posting:
3.1¢ Sentiment: Hold Disclosure: Held
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