Maffs, Don't get me wrong here as I am still very positive on this company but I do think your analysis is best case senario.
What the company said was they aim to start with 1000 Ton per month and will try and get it up to 5000 Ton per month. Its risky assuming 5000 tons per month will happen as we need proof first.
Also since 1st Feb Copper in AUD as dropped 13% so the figures that the company previously published showing what they would get for all the different grades will now be lower.
Also you need to consider that they only own 90% (once they take up their option) plus they have to pay between 5-10% Royalty on the gross revenue.
Having said all that if they can deliver what they say the company has fantastic potential.
Personally I took my profits a couple of days ago due to the Copper price dropping and the limited cash the company has to get initial production going. I know they say a CR is not needed but I personally think they will either need to borrow funds or raise some fund to start production.
Once the production licence is granted and I can see they have enough cash to start production I will happily buy back in. If its at a higher price then I won't have a problem with that.
MNE Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
