My field is geology rather than finance but isn't one possible outcome for this fiasco the payment of these invoices using the funds from the uranium divestment? This would still leave the company as a high cost producer in an era of declining copper prices but the additional production should have been improving productivity.
In addition the declining fuel price should have been a benefit as well.
I should disclose that my financial interest in MRX was negligible but I had made recent contact with the company with a view to doing some contract work with them. In my view they may not have been getting the best value from their oxidized resource.
MRX Price at posting:
$1.15 Sentiment: None Disclosure: Held
