I have a fairly simple question... Actually simple questions...plural. I have done a tiny amount of research on the company, read with amusement a lot of the posts, and watched the gyrations of the share price wishing all holders the best.
I can't quite get my head around something for an answer I am sure of. Could someone fill in the gaps and let me know if I am correct.
From what I can tell,
1. MBN almost went broke, and organized a deed of arrangement for approximately 400 million worth of debt
2. The debt was converted to equity... What is the effective price per share of the conversion
3. Is it correct that this ended up with the debt holders now owning 98% of the company
4 if so... Who are they? Anyone know who owns most of MBN... Are the traders and the rest of the market only playing with 2% of shares on issue???
5. If so... Are they planning on holding it... Why would they not just do a full takeover?
6. Have I got it right when I look at the accounts, that if it wasn't for the debt conversion/forgiveness that they would have made one heck of a loss
7. Anyone have a realistic idea of the earnings per share over the next 6 or 12 months... Forgetting about the bull to do with debt forgiveness? Real earnings from digging stuff up and selling it
8. Can anyone tell me without digging thru the combination of paper war and possible bull, possible truth, what their resources/reserves are and production performance past and future expectations ( I don't know if it is doublespeak or not... I haven't done the analysis on their past performance versus promises so honestly don't know)
9. What's the opinion of MBN board like... opinion of course... Related loans, promises versus results, anyone have an opinion of if they are milking the company, do they have skin in the game?
I'm a big fan of nickel at the moment.... But I am thinking is this a comeback story, or is it a bit of a corporate chess game! Or a pump and dump. Or just day traders gone mad .... one of the four I think
.... one of the four I think
