mrthrifty, its much much more complex than that. bmn Need to...

mrthrifty, its much much more complex than that. bmn Need to find 555m to finance their construction, thats going to be difficult in this environment, that i think is going to get worse. Then, BMN need to find offtake partners and contract deals AT these long term prices, which can change rapidly. If the USA was to enter a double dip in 2010,bringing the rest of the world somewhat down as well, then this long term price will fall also. With no deals yet made by BMN, the most relative price to them is spot price.

im still a believer of BMN, i always had faith in this company but IMO, there is more downside to come. Long term, when the world recovers and begins strong growth again, BMN will be a very profitable company, but how far away is this?? So much water to go under the bridge yet, and so much more recovery in demand needs to occur before BMN can sign some contracts at the long term price of $70 lb ++

i think one day this will happen for BMN, but not in the short term, meanwhile, there are plenty of other opportunities to invest while BMN sorts out its opex and the world recovers

i just sold out my position yesterday, and will look to get back in one day, but unfortunately, i can see BMN SP falling as low as 55c