ppaton is right,
MRE will be lucky if it can avoid bankrupcy. Based on the FY08 figures MRE was producing nickle at about A$9.28/lb including the cobalt credit. Since then acid prices have gone up (a lot) and cobalt prices have fallen.
I'd be pretty comfortable in saying they are trading at a loss at the moment.
It won't take long for its cash surplus will be used up then it will be curtains until the absence of a couple of the laterite nickle producers starts to constrain supply.
down again, page-17
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Last
$1.98 |
Change
-0.005(0.25%) |
Mkt cap ! $299.8M | |||
| Open | High | Low | Value | Volume |
| $1.98 | $1.99 | $1.96 | $578.4K | 293.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4442 | $1.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.98 | 16587 | 2 |
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| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| MRE (ASX) Chart |