Australia's largest stock trading and investment forum Australia's #1 stock forum

MEL

Click for more information

0.00%

0.5¢ metgasco ltd

Thanks stumpy. Good job in explaining it.

First 18 Last

Share
Profile

Follow
buddy134

23,467 Posts.

110

12/11/16

06:40

Post #: 20564771
Share

Originally posted by stumpytrunks ↑

mrpaul - MEL traded for the first time without an entitlement to the 2.5c capital return. In effect we went from cash backing of 7.1c per share to 4.6 (with 2.5c cash in hand for the holder).

As such, we went from being valued at 0.3 cents below cash backing (based off yesterday's close of 6.8c), to 0.5 cents over cash backing (5.1 close today).

Essentially we 'should' have gone down 2.5c (value of cap return), but only went down 1.7 - effectively you are 0.8 cents per share better off than yesterday.

Of note is the fact that we bottomed at 4.6c today - the new cash backing - but rose again and looked quite strong at close around the 5.0c mark. This is the first time that we have exceeded cash backing since the settlement hit the MEL bank account. Perhaps Biouvac Peak is being recognised, or the market is acknowledging that BYE has two months to draw down the convertible note (effectively around 14% interest for 8 million) and that the MEL quarterly projected this whole amount as an outgoing in the current quarter (i.e expecting that the whole amount will be drawn before end of December).

Personally, I'm hoping that a deal is in the works.

Expand

Thanks stumpy. Good job in explaining it.

MEL Price at posting: 5.1¢ Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

ME1

Banshee's historic trenches prove rich in antimony and gold for GDM

HotCopper Highlights: Your most watched stocks for Week 46, 2024

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

There are more pages in this discussion • 22 more messages in this thread...

First 18 Last

Add MEL (ASX) to my watchlist

(20min delay)
Last 0.5¢		Change 0.000(0.00%)		Mkt cap ! $4.342M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$136	27.2K

Buyers (Bids)

No.	Vol.	Price($)
6	13004389	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	777334	2

View Market Depth

No.	Vol.	Price($)
1	10000	0.047
1	131932	0.046
2	110000	0.045
1	100000	0.042
1	50000	0.041

Price($)	Vol.	No.
0.052	25657	1
0.054	54653	1
0.055	194892	1
0.058	40000	1
0.060	500000	1

Last trade - 15.32pm 15/11/2024 (20 minute delay)

MEL (ASX) Chart