MCR has no debt, but its prudently cut staff & production &...

MCR has no debt, but its prudently cut staff & production & costs in the 10 year low NP environment.
Its COP was dropped from 6.80s to 5.80s, very sharp but that's still way above the current NP of 4.77, dso hedge book is maxing out.

This run from its floor range of 24c-30c has been cracked out of just like by SLR, its got a bid as its cheap and valued at 1.8x cash of $30M with little value for resources and goodwill. We all know it should be higher and with a bit of NP rise it may get there. They talked about shuttering all mines by Dec, the management is very prudent. No point loss producing forever. With NP rise to 5.50-6.00 it may get back to 50c-100c range again.

Right now it may be just revaluing after this collapse from 50c-75c range of Jan-July back to this 24c-30c range hole of the last few months.

34c is nomans land, its trying to get to 50c I think but may not get there. Amazing what only 700K share buying can do to this stock, no one large is selling which is a good sign.

Lets see what branch it can get to and cling to.