FYI Pursuant to Listing Rule 17.2, Mirabela Nickel Limited (ASX:...

FYI


Pursuant to Listing Rule 17.2, Mirabela Nickel Limited (ASX: MBN or Company) requests an immediate suspension of trading in its securities. As a result of the precipitous and severe decline in nickel prices, the Company is in discussion with third party financing parties.
The Company also advises that until it has concluded these discussions with its financing parties, it will not be in a position to finalise and release its financial statements for the half-year to 30 June 2015.
The Company requests that the suspension remain in place until it makes an announcement in relation to the outcome of the discussions and releases its half-yearly financial statements. The Company anticipates being able to make this announcement and release the financial statements by the end of September 2015.


POS is entertaining ........it has 35m in c/notes .....the "interest" is being repaid in new share issues .......

they will (imho) exceed the 15% capacity (unless the stock is circa 11c++)......so technically ......up against it .......

IGO has some commodity price hedging (Q1 FY16: 250 t/mthat avg. price of $19,701/t), after that - they also face the "wall" ........but rest of operations will pull throu .....so will be fine ....

wonder how some of the "big" nickel players are doing right now ???????????????

rgds
V_H