Possibly means one of two things
1. Mel are very confident that the court will find in their favour. Mel moves to seek compensation from State. A cashed up Mel then gets going both in USA and in NSW.
or
2. Mel expects the court to find in favour of the State. Mel walks away from Australia. Never to return??
Can only hope its the first. $9M doesn't get anyone too far in the O&G industry anymore. I can't imagine too many wanting to be involved in a capital raising after the losses some of us have sustained on MEL.
Either way, negotiations with ELK would have been ongoing for some time and no doubt at least during the time period covered by the court case. This just hasn't all been formulated in the last few days.
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Last
0.4¢ |
Change
0.001(33.3%) |
Mkt cap ! $4.342M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $602 | 150.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 21139663 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 11265220 | 12 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| MEL (ASX) Chart |