Australia's largest stock trading and investment forum Australia's #1 stock forum

MBN

Click for more information

0.00%

8.3¢ mirabela nickel limited

But as majority substantial share holders I thought they...

First 726 Last

Share
Profile

Follow
AlCp

3,836 Posts.

218

25/06/18

14:09

Post #: 33929808
Share

Originally posted by Lucky Phil ↑

MBN is not theirs to sell. But they can buy the mine if they want to and cheaply too for not much more than current bids - unless that's already them dressed up or presenting as someone else. (KM tell me that it's not).
As the QC pointed out, it's common for secured and / or major creditors to buy a company that's in liquidation and at a price that barely covers what the company owes them: IE A round about way of converting debts into ownership. Again, KM say that's not what's happening here.
In all of this (my guess) the sticking point in the sale is that one of the secured creditors is Bradesco:
- They will want to be doing the best for Brazilian govt and locals and (purely my guess) have a few conditions precedent before locking arms with the other secured creditor and agreeing to MBN being sold by FH for ~$250M (amount gleaned from KM) and then taking their part of those proceeds in turn for giving up their current secured rights to any of the assets.

Expand

But as majority substantial share holders I thought they couldn't.....well I've shafted myself there.

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

0 Great analysis

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

Chaos reigns markets – so let's take stock of where we're at ahead of December

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

PME

Pro Medicus signs landmark $330M deal to roll out imaging platform in US hospitals

SHN

Chimeric clocks $4.17M R&D tax rebate from Canberra

MTM

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

OCN

Southern Cross Gold zooms in on 9 new high-grade zones above 20g/t at Golden Dyke

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 217 more messages in this thread...

First 726 Last

Add MBN (ASX) to my watchlist