Noteholders have written off US$395m notes/debts, brought mbn into live, but at cost of diluting shareholders to 2%, noteholders own 98%.
currently, mbn still have US115m convertible notes, not debt free.
september quarter report showed cash cost rose from US8.43 (Jun 14) to US$9.02 (Sep 14), cash cost was far higher than spot price US7.3
also last quarter burnt $28m, they have $29m in October, how long $29m can last?
MBN Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
