charts, page-40

when you have a look at the one year chart,
and that the cliff drop in jan was a knee jerk reaction followed by was it d&d sell recomendation? due to the pfs indicating $38-41/lb opex, which focussed on the spot, and ignored the reality that BMN will offtake with its strategic partner at contract rates, you realise that it has a lot of ground to make up.

In fact, all of it. The strategic partner, as been posted here before, may in one form or another, acheive a support mechanism, closer to peer valuations, which begin at $3/lb,as suggested in the latest video pres,

$3x162/240 fd= $2.00

Though i would be confortable with half of that, 1-1.20 redempetion of the medium term mindset against the sector, and the caning it gave bmn.