85c support level, page-79

thats fine spiderman, my interpretation is that still 555m is going to be difficult to find, or else they would have at least something in place by now. With the decrease in economics for etango, its not going to take much longer to pay off the finance and therefore interest will be higher, terms wont be as favorable, and the development decision in 2011 NOW becomes unclear. I would like to reiterate again that i was a huge fan of BMN, and long term i still am, but for the short term, problems will arise, and the SP may fall further.

Hagar, amazingly, i do read reports, just not with one eye like perhaps you do. I dont read a statement from directors saying that we are going to sign a partner who will give us 555m to finance our mine and away we go, BUY UP huge. i look at the industry first, and the growth for credit and viable partners out there. I use economic models and equilibrium credit graphs, which tell me that for the short term, clearly credit is strained, and while i note that Asia will continue to move along strongly, this will be hampered when the USA goes into another meltdown, credit will again slow further while the world re-aligns itself.

long term contract prices are $60, but may i say, on a clear downtrend, and may fall even further. BMN need to sign offtakes at more than $70lb to be profitable, pay off debts and cover all expenses and MOST IMPORTANTLY, pay SH a dividend over many years.

there is a lot of tension on this thread, understandably so when a SP falls almost 50% in two days. Hagar and others, im not saying BMN will never construct a mine, but short term, the economics will NOT suggest a viable option to begin construction, and many uncertainties remain, and thus, BMN SP will remain suppressed and 'IF America dips, and the long term price falls to $45 lb, BMN SP will be 30c, but longer term, i envisage 2016> when Asian economies revisit huge growth periods, and the long term contract price recovers, perhaps past $100 lb, then BMN will become a sig player and a great investment once again

good luck to all holders