there is a possibility of recapitalisation and the replacement value of mrx plant is close to $100M so also some potential recovery on break-up
big problem is Glencore has lien over all copper production as security for the loan - this means the receiver can snaffle all the cash from mined ore still being leached and essentially starve the administrators/directors out (Glencore is not generally regarded as a corporate philanthropist so it is very likely they will do this)
i haven't abandonned all hope on this one yet but i am an eternal optimist (moron?) especially when facing the sizeable bollocking i have taken on this stock
good fortune all
MRX Price at posting:
$1.15 Sentiment: Hold Disclosure: Held
