Not so sure we will see any dip under .005 lasting long. I see it this way, this could very well be the last time convertible notes/shares are issued for Merlin, a final scrambling for large positions with one last working capital injection. While the short term funding proposals are messy, at least the funding is accessible.
Merlin must be hoarding diamond stock for Antwerp sales, production is on the verge of 100 tonnes per hour with some nice looking large diamonds being recovered in a very short period with the processing of fresh ore. This is not just some explorer years off a JORC or dreaming about production. Fresh ore is being processed right now and cash flow imminent.
Once positions are made this could very well be pumped to kingdom come once sales are reported and company actually discloses cash flow. Distressed selling of shares now could be very regrettable in 6 months time.
MED Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
