Don't want to rain on your parade here but every single miner that is operating at break-even or losing money has a strategy to get costs down. I basically don't believe anything that a mining company says until I see the numbers or the cash in the bank.
I think the sharp market price drop and the fact they have raised additional capital is telling us that the company is losing money on MH production - it is also highly susceptible to any further falls in the copper price, at which point it would have to shut down production.
Having said that, Pearse is a great asset and I have no doubt that they will make good money from it when it comes to production.
KBL Price at posting:
12.5¢ Sentiment: None Disclosure: Not Held
