Surely it is because underground is significantly cheaper than open pit when you are mining narrow veins as MNE are.
If at some stage in the future an on-site treatment plant is developed i am sure they will revisit the open-pit discussion.
It's exciting times at the moment, if the bulk sample (or first 5000t if they choose to do a whole shipment) has economic grades the operational and market outlook would change very quickly!
MNE Price at posting:
2.2¢ Sentiment: LT Buy Disclosure: Held