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8.3¢ mirabela nickel limited

If it gets sold, it will be very interesting to see all the bid...

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AlCp

3,836 Posts.

218

01/06/18

12:11

Post #: 33431248
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Originally posted by AlCp ↑

KM was marketing it as a $500M USD mine with the second largest open pit sulphide nickel ore deposit last time.
Yes PoN was $8-10US/lb then but they also had very high proven production cost and their net profit was a HUGE negative, hence the potential bidders also mention that they didn't expect them to be cash flow neutral anytime soon.
That asset you mention that they disclosed in the financial and VA report are related to current assets, and not the potential of the mine, but even that is very low given the infrastructures with supposedly proven low production cost, very interesting don't you think.
Yes, in a "normal" liquidation the creditors can sell it to themself for $0 but in those situation were they also majority substantial share holders which allow them to quickly approved the VA.
I just hope this delay is them seeing the PoN, REAL and by-product credit recovery and are second questioning what they think the mine is worth.

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If it gets sold, it will be very interesting to see all the bid and from who the liquidator received them and also who he "contacted".

MBN Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
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