MBN 0.00% 8.3¢ mirabela nickel limited

All over done and dusted, page-415

  1. 9,235 Posts.
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    not trying to cross promote here but just trying to showcase a good turnaround story from DEBT (in a falling commodity price - Copper) to a more leaner and fitter debt reducing company - AIS Aeris Resources...

    they had a huge $150m or so of debt 5 years ago and Copper prices were falling just like Ni and the management just put their heads down and went about to create something out of literally nothing... and today we have a company which could be out of all the troubles with all debt issues addressed and Copper price increasing like Ni and STILL LISTED ...

    I wish MBN had that kind of management at any stage of the last 5 years... we would have gone through the lean phase and could have survived and today even be making some decent $$$ @ $6+/lb...

    in the end it all comes down to the management of WHAT YOU HAVE rather than anything else... debt is inevitable for almost all explorers turned to processors... it is how you manage is the key... if the management is hell bent on turning a rocky ship around, they most probably can... unfortunately, we didn't have any such management here and got shafted due to this relisting - which probably got us into thinking that all is kosher now for the future and we will be good IF we could handle a few rocky bumpy sessions...

    IF we can somehow prove that the management did us in, we can have some sort of a closure... until then, it is just waiting on a miracle that may never happen...

    same story for PDN - 98.2% DOCA and I am sure one day there will be an MBN like shutdown for good IMO... ASIC/ASX needs to get their act together and start looking at these types of companines more closely before allowing DOCA to proceed and relist IMO...
 
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Currently unlisted public company.

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