MAY 4.35% 2.2¢ melbana energy limited

I must admit I looked at MAY over the years and was concerned in...

  1. 625 Posts.
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    I must admit I looked at MAY over the years and was concerned in MEO days of some of the lack of BOD corporate world experience and the influence over them of venture capital investors with ST horizons. Whether it was Cuba, Beehive, Tassie Shoals, NZ etc it was very difficult to get a dancing partner to do the hard exploration & proving required on the various permit areas.

    The shift to Sydney and rebadge as MEL was not just cosmetic. The change in CFO/Comp Sec, departure of "white shoe brigade influencers" and gaining of some competent advisers allowed the geologist-trained BOD & mangers to do what they do best and focus on Cuba (even after disappointment in NZ).

    I finally brought parcels of MAY in Jan 2018 and my buy av SP is still around 1.4c. Very happy to be in the million share club and will participate to the max in the current SPP with bonus options. However I do expect a share consolidation to happen not long after the good news comes from our Angolan drilling partners. Nothing to fear with that as this baby finally grows wings.

    GLTAHs & thanks gosh for starting this thread!
 
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