Most mining companies have their stock trading at levels that would indicate a depression. Mercator Mienrals, who is starting their mill up in 2 weeks and will produce 5mm lbs of moly per year plus 25 million lbs of copper is selling at a market cap of only $150 million. That is less than the money it takes to build the mill.
My point is that under these circumstances we cannot be overly optimistic that share price will jump with any news. The only thing that looks like would help is that the economy doesn't go into a very severe recession and there starts to be growth again, maybe in q2 2009 or q3.
The other concern of course is financing next year, after the BFS. Hopefully things will look clearer by then. Otherwise, I am going to sit on the shares that I have any wait and see if the market really tanks.
Good luck to all.
