Realistically MEL has held up well given the Australian newspaper sledging. Just over 3.5m shares have traded since the article on Saturday and around 3.2m are @ .008. Not exactly a stampede for the doors.
I think there are reasons MEL can't/shouldn't make any announcements right now. They can't announce an incomplete financing package to the market and the dispute with KBC is heading for independent mediation. MEL needs to keep its powder dry for that. A public slanging match won't do much.
As at @boysy1 spreadsheets show MEL is actually in a decent position to move forward if/when KBC is resolved. It is pretty clear to me that KBC want exposure to the JV which puts them in a conflicted position as a lender.
The announcement I would really like to see would be Odin resources to reserves. It would be a good circuit breaker for this KBC debacle and remind Joe Public of what MEL actually has under the ground.
MEL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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