I've just finished reading the morning papers - all joy as you...

I've just finished reading the morning papers - all joy as you can imagine. MRE requires a $100million cash injection - AFR. I guess they are just burning through the $66 million in reserves they had (I haven't bothered to read their last financial statement so this figure could be wrong). This is, IMHO, the end for MRE without a sharp upturn in demand from China.

I think they should cut back to bare bones production over the next three months and, if no sign from China of an increase or a substantial decrease in world stockpiles, then they should close the mine.

Sorry guys but I have seen this before with companies like Sons of Gwalia, HWE, that car parts manufacturer whose code I cannot recall, etc in recent years and the incredible number of mine closures at the end of the last commodities bubble. Management cling to small hopes and then it dies. Ask yourself who is going to lend a nickel miner $100 million in this climate? Answer - not even Dui would be that stupid (sorry Dui, but I have to use an example everyone here understands).

Sharemadder... make sure you lock the gate after Kurt and the others have been removed by security.