News is they have "agree" to sell the mine for $220M USD a year ago so it's only enough to pay back all the secure creditors (Bradesco and the major creditors/majority substantial share holders), apparently none of the buyers are current share holders so these majority share holders/major secure creditors get nothing from their initial investment after the DOCA and the reason for the hold up is due to a Brazil bank (likely the other secure creditor Bradesco who are owned $47M USD).
Why they have done this a year ago knowing that the PoN and REAL will recover to very favorable outcome for MBN and with it's supposed low production cost that they've kept on telling us before and even after the VA is beyond me unless the buyers aren't "totally" independent 3rd party from them or their operation cost isn't as low as they've told us.
They have a JORC of 250Kt of nickel concentrate reserve remaining, $500M+ USD infrastructures, other unexplored tenements and now the PoN, REAL, copper and cobalt by-product credits are extremely favourable and they decided to sell for $220M USD a year ago????
Even if they say they don't care and can regain the money from their other investment, it's still $100-200M USD they are missing out on and even more if they hold for another year!!!!!
