The only major downside is that we now have quite a lot of shares in existence.
When I first bought it was around 80mn after the latest raise it will be north of 300mn with a lot more options in the mix as well.
Of course none of this matters if MNE cam impress the market by producing Cu within a few months from the tailings and thus become cashflow positive from operations instead of shareholders' savings accounts.
The mining from the 1800s used a cut-off grade of 9% Cu, I think we may get some suprising results from the tailings for which a figure of 1%-2% has been conservatively forecast.
EB
MNE Price at posting:
2.7¢ Sentiment: None Disclosure: Held
