I think DEH's comment about the debt ceiling is true. We really started to climb when the street got the feeling the US wasn't going to go over the fiscal cliff. Now that there is worry about the debt ceiling our SP has suffered.
What we really need is strong profit on the books like you said along with any form of positive news on El Pillar. I'm hoping they find a partner soon that will help them get that project going but also benefit ML shareholders, ie, the partner doesn't take 50% of the profit El Pillar produces.
Would it not make more sense to sell off El Creston to fund El Pillar and get this cash train going?