TBH The news is tepid to Luke warm at very best... it’s with conditions, the drill at best is pushed out to sometime in 2021, ...in this current market, that is really not seen as a sign to get to positive about just now. Which of course is why they released it at 1900 in the evening instead of waiting for an 0800 bang if it were really positive news. Nothing it seems with Melbana is straightforward and goes to plan , which is why I no longer hold after many years of misery . Beehive will not get the market excited until a firm drill plan is in place and partnering agreements are set in stone, that may or may not even happen in Q1 20.
The company is likely going to have to get a positive release on Cuba out IMO to get Interest in here, Beehive still in the maybe maybe not pot. Going of past events with Melbana’s Cuban adventures , chances of that happening anytime soon, relatively low IMO.
The MEL fiasco is the icing on the cake for me, Zero shareholders from either company wants it that I can see, ,the take up of MEL shareholders to the offer outside of Purcells holding is even worse than Mosmans farcical attempt on MAY ( then MEO ) 4 years ago..they only got sub 4% , MEL holders have even less interest to come over to MAY. Massive drain on resources here and I imagine dollars.
Best of luck to all holders , you deserve better times, it was not easy for me to sell at massive losses after so many years involved as a large shareholder , but I did and I actually felt some relief .. I see absolutely nothing here ATM that would even warrant me having a look in again in relation to coming back aboard the ship. When I do I will comment.
