due for a run up, page-4

The only improving numbers is the processing costs per pound - everything else is still in le toilette.

The fact is the mine is operating at half planned capacity, getting less than optimal recovery, and making operating profit which can't pay for the ongoing prestrip.

The banks are in over their heads with this and are taking a patient view because they don't want MBN to die and have to put $400M onto their losses when there's a chance that everything might pan out in a few months.

Remember...MBN said it was going to be producing at nameplate rates by now, six and twelve months ago. It still isn't.

This will run up only when the mine achieves close to nameplate production. I'm avoiding it for now, and going on 9 months since I last owned it, I'm in no rush to take a risk. If they don't achieve their stated production soon, they'll run out of money and $2 a share will look like the Poseidon boom.