I rang the company and asked and they are tight lipped as would be expected on the cap raising.
But I did ask about Fury-1 testing results.
I felt bad for them as they said they are testing / going as fast as they can but these results just won’t be ready and announced at the time of the cap raising.
So expect a cap raising at whatever price you think with only the news we have currently.
I have a lot of faith in MHL now....and yeah you guys who posted on them needing the cash to continue after drilling is spot on, to develop the wells and there is not more than we could ask for to date on 42% of Fury-1 deemed commercial and drilling like mad on airacobra-1.
For shareholders right now, it can be a tough pill to swallow seeing "sophisticated investors get in at half the price we buy at, but my gut feeling is too push through this one and support the company.
The results to date and turn in company direction in terms of hitting success is a big change. They are partnered with VPE and hold a bigger share than VPE. The well right now is adjacent to Santos.
Not a lot more ticks that we could ask for besides being cashed up heaps and to do that, they need money.
My gut feeling is an announcement tomorrow but they have until Thurs morning. Sooner the better I reckon to keep the momentum flowing.
If cheap shares hit the market, we might be surprised and see some big buying taking them off their lucky hands like yesterday afternoon. There seems to be some serious interest here now, bigger money, and that happening right before a cap raising, I can only assume they would know where MHL is at and happy to be buying where they just did....0.6c and a couple of hundred million in one hit.
MHL Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
