75 million in the bank. no debt!, page-9

Agreed - what's the tenemants worth if you can't turn a profit ? ALl comes back to forecasts i.e. PON . Hence rather buy closer to cash backing at this stage until PON improves for medium / long term.

I only scanned through the report at this stage though did notice some words to the effect that MCR will take whatever action necessary in current climate . I read this as potential mine closures / lay offs.

I'd tread very carefully with any company in the resource sector - been saying this for a while now. Much more pain to come across the board.