I am bullish as the CFO sound seems to be now "bullish" but yes, it could be a "false" bullish. I honestly don't see a fire-sale, they would have done it ages ago so why waste the money on C&M for a year? and pay the $3M USD mine payment to CPBM?, they have low production cost and capital expenditure, so why not wait until PoN gets to $7US/lb and they will get a very nice return on their investment for the last 3 years......wouldn't you do that if you were in their position?
I am certain if PoN didn't crash to as low as $3.5US/lb and stayed at $4.5/lb for all of last year, with PoN only having to stay at $6.5US/lb (it doesn't even have to be the "N3 Eclipse" prediction of $8-10US/lb) it would have a market capital of $300M AUD (i.e. pps of 32c)....easily.
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
