The director of Mirabela Brazil Mining in Itagibá, Milson Mundim in telephone contact with the GIRO Ipiau denied the information released by the site Mining News ( see here ) stating the possible mining production of return in the second half of 2017. "I do not have the slightest idea where the rumor came from," Mundim told GIRO. "It's sad that I'm far from there. The mine's operations were suspended in May this year when Australia's Mirabela Nickel was liquidated. Since the beginning of the year, the mining company has been giving indications that would paralyze activities, due to the global crisis in mining. At the time, nickel was being traded on the international market at US $ 3.70 a pound. Today the figure is at $ 4.69. Price still considered unfeasible for the reactivation of operations. Because of the crisis, about one thousand workers (direct and indirect) were dismissed. The pause in the production of nickel in Mirabela has caused a great negative impact on the economy of the municipalities of Ipiaú and Itagibá. * Giro Ipiaú
It is as I thought. Most MBN shareholders are way too optimistic about getting our money back. At this point there is not even a shred of hope that we would get our money back, so I focus my efforts on recouping the losses on other investments.
MBN Price at posting:
8.3¢ Sentiment: Sell Disclosure: Held
