I guess the next 12 months will be the decider for MNM. If they get Norton into production and generate even a trickle of cashflow, this may be sufficient to keep them going long enough for the brown coal to become a reality.
If there is any issue with Norton leading to continued delays, more funding required (I don't think any more CRs will be very well received....), or some calamitous problem which they have completely overlooked, then I think it's all over red rover.
I just hope that management realise that Norton is really their last chance to deliver. After all the promises and projects over the years going right back to phosphate (that was 2009 - some of us have grown old waiting for MNM to achieve anything), a failure at Norton will be the straw that breaks the camel's back. We still have to contend with an end of FY year sell off from people taking a tax loss on their MNM investments; I'm in this position myself with profits from other trades, so this could be a good year to get shot of MNM shares once and for all. If the SP is below 1c approaching June 30, then I'll likely do this.
Just thankful that I don't hold any MNMO.....just heads.
MNM Price at posting:
1.1¢ Sentiment: Sell Disclosure: Held
