"The world is a tougher and harder place now'....

"The world is a tougher and harder place now'. People/banks/financiers/agencies/governments appear to be so much more risk averse and unwilling to fund opportunities, even if those opportunities are blaring into their ears with a foghorn calling for attention.
So many of my small-cap speculative plays are stuck in a holding pattern of being unable to get project and operational funding, despite having sound and solid fundamentals and development pathways. MNB is one of those. I am frustratingly under by 45% despite some half baked attempts at averaging down. I'm sure there may be others in similar boats.
I have seen share prices plummet by 100's of percent and as an ex-resources sector insider and executive, its is frustrating to know that whilst solutions are evident, opportunities are not being taken up due to an inability to raise/fund or lack of $ to progress activities, or the depletion of funds due to the natural passage of time and various development 'below the line unforeseen yet relatively minor individual, yet cumulatively large' risk factors.
CEO's, CFO's and Project Managers (you wouldn't wish these roles onto your worst enemies at times, tough gigs) have short term targets, and can be guilty of going into hot air, fluff and promises mode in order to convince externals that they've got this, which inevitably turn around and bite them.
My response has generally been to ensure that the portfolio is diversified as heck, and that the conservative safe investment options are used more extensively over time.
If I had another 20 years of solid investment left in the stock market probably be a different approach.
I think MNB (and other phosphate and fertilizer plays that are in the same situation) is a solid punt and will retain holdings and grow them in time.
There are competition headwinds, the North African Phos companies have that much material that they can ramp up and swamp onto the world to keep prices down if they need to, and if Russia/Ukraine gets sorted there's even more competition.
In the short term will 'keep a watching brief', put it in the mid to bottom drawer and not be too worried by the daily fluctuations, I have no doubt this will be at least a double to triple bagger over the next 24 months.

These are all just my rambling opinions and GLTASH.