MEL 0.00% 0.5¢ metgasco ltd

Not a lot going through at .003. I had to wait over a week to...

  1. 867 Posts.
    lightbulb Created with Sketch. 463
    Not a lot going through at .003. I had to wait over a week to fill a little order.

    MEL is an interesting stock right now.

    Glennon have a $6M exposure to MEL split evenly between equity and debt. Glennon kicked the board out last month and took control of the company.

    MEL desperately need funds to re-work Odin-1 and connect Odin-2. At the same time Glennon moved on the board they lent MEL further funds to do this work. This work should get MEL in production and cashflow positive.

    Glennon have a vested interest in making sure MEL acheives this as it the only way to protect both their debt and equity.

    VEN (as operator) have previously said they will be onsite mid-Sept with completion mid-October. As long as VEN isnt to distracted by their merger with GLL we should get some news late October?

    A lack of funding to complete capital works has been a noose around MEL's SP. They now have the funding to do the work.
 
watchlist Created with Sketch. Add MEL (ASX) to my watchlist
(20min delay)
Last
0.5¢
Change
0.000(0.00%)
Mkt cap ! $7.287M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
3 1577310 0.5¢
 

Sellers (Offers)

Price($) Vol. No.
0.6¢ 6848781 5
View Market Depth
Last trade - 16.12pm 18/10/2024 (20 minute delay) ?
MEL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.