I'm a long time holder of MIL, an attitude which has cost me a few opportunities for profit, alas. MIL has a problem in that they are running out of cash; however Thyssen appear to be standing by them, even though certain of their contracts have lapsed. I am also encouraged by the new management -- well, Gordon Galt in particular -- who seems to know what he is doing in terms of getting a large project like the smelter off the drawing board. This is more than can be said for his predecessors. I have also heard that GG is a much better negotiator than his somewhat abrasive predecessor, and that he is used to dealing with government etc.
In all, I think MIL are quite risky - particularly if the A$ continues to rise against the US$, which will stuff up their projections I would think. But of course if they can swing the financing for the project, I think they will fly.
