Stumpy, I have been on board MEL since early 2007 regardless of...

Stumpy, I have been on board MEL since early 2007 regardless of some of the thoughts of others. I think I have taken part in two previous SPP but not this time. MEL was going great guns previous to this green stop.

I am in long term but see things for what they are. We have seen ramping for years on this thread with constant predictions of awe and grandeur.

The issue is the greens will not just disappear regardless of all the hoo ha about the approvals. There is an election in 12 months or so and the minorities will make some serious noise. Yes I don't think they will stop it, however they will slow it down, and slowing it down costs MONEY!

I think there is about 3-5 years ahead before any REAL traction for the SP. Until then we will see announcements, then a little pump and then a return to the previous price or lower. I am under no illusion that we will suddenly see it go to 40c, if that did it would be a nice surprise.

Yes I am in for long term however extremely disappointed with management for lack of return. Yes we can all blame the greenie thing over the last 18 months, then if that is true why the high cashburn. I can only see huge cashburn for sometime with no return.

Each and every return for more capital will likely be at a reduced price until investors see actual, not predicted or hyped up value adding.

The market has already taken into account all the announcements, predictions and promises yet still is not revaluing MEL to the amazement of some posters. Posting happy thoughts on MEL will not make any difference. The market wants more from MEL and until then, I see no real increase trigger for the price.

Until then I will wait at or below 20c to pick up some more for a trade. There is no rule that you cannot trade MEL even if you are holding some also. In fact in this market, you have to take any option to get a return that you can.