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Melbana Energy Limited ( (AU:MAY) ) has issued an announcement.
Melbana Energy Limited has successfully secured approximately $7 million through a placement to sophisticated and professional investors, with shares priced at $0.017 each, marking a 22.7% discount to the last closing price. The funds will be used for drilling costs at the Amistad-2 production well and general corporate purposes, with the placement shares expected to settle on 26 August 2025 and be quoted on ASX by 27 August 2025. The issuance of attaching and bonus options is contingent on shareholder approval, with an extraordinary general meeting anticipated in mid-October 2025.
The most recent analyst rating on (AU:MAY) stock is a Buy with a A$0.08 price target. To see the full list of analyst forecasts on Melbana Energy Limited stock, see the AU:MAY Stock Forecast page.
More about Melbana Energy Limited
Melbana Energy Limited is a company operating in the energy sector, focusing on exploration and production activities. The company is involved in the development of oil and gas resources and aims to enhance its market presence through strategic investments and partnerships.
Average Trading Volume: 1,907,554
Technical Sentiment Signal: Sell
Current Market Cap: A$74.14M
For detailed information about MAY stock, go to TipRanks’ Stock Analysis page.