525785 Logo Design for our new brand

The store is to be called Meganesia, which means the island of 'Australia'. We don't want Aussie colors though. We are looking for a indie / grunge look, I was thinking something simple like a 'M' with some effects... not sure on the colors to run with, but would also like it to appear good in B&W so we can choose between the two. I've attached work I've had done previously and I like the style of it, so taking a similar approach would be great.