morning shorts recovered in afternoon trade, page-4

Wakeup,
Since December MCR has been range trading between 3.70 and 2.80 which is a big swing.
Closely leveraged to PON due to "current producer only" type status, though I do think market recognition around open-ended reserves is starting to sink in.
I agree , it could easily go as low 3.00 today or even lower as the PON is sinking and A$ improving continuously.
L/T what MCR has up its sleeve is less about margin % and more about margin $$$'s. It will be about production volume and about being a sulphide miner for the next decade at least. Hoping the diversification strategy kicks in with that cash in bank to finance its breakout of pureplay.
Could be a good time to avg up the holding if/when we see the 2.80's again. SthEastAsian demand isnt going away, just cyclical.