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.
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Agreed - what's the tenemants worth if you can't turn a profit ?...
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