goarmyThe revenue from Crista and Olhos was supposed to fund the...

goarmy

The revenue from Crista and Olhos was supposed to fund the development of the mine in Peru. It seemed a sensible strategy at the time. They were not to know that Crista and Olhos etc would be caught up in national park and environmental issues.

One could say that they should have put a stop to the Brazilian operations much earlier and not borrowed more funds to put into an operation that required approvals at some uncertain point of time in the future. Had they done this MUN would be a in very different position now. Either Peru would have been proven to be a successful operation (as suggested by other mines in that region) or MUN would have ceased to exit.

Brazil is now history, and we need to move on.

MUN is a spec. It can go a lot higher or it can just die. There is not much more downside from here for me.

Such is life.

Good luck.

loki (ever the optimist)