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8.3¢ mirabela nickel limited

The magic pink line.., page-67

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user23

3,914 Posts.

22/03/16

11:28

Post #: 17335282
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Originally posted by ntkm ↑

Government and Mirabela close agreement and company must continue operating

Monday, 21 March 2016 Giro in Ipiaú to print

The agreement between Mirabela Mineração and the state government was closed in the late afternoon of Monday (21) in the Department of Economic Development in Salvador. The agreement was sealed between representatives of the mining company, trade unionists, parliamentarians and the secretary Jorge Hereda. State legislators Eduardo Salles, Fabricio Hawk, Fabiola Mansur and Euclides Fernandes, as well as representative of the federal deputies Bebeto Galvão and Davidson Magalhaes, who could not attend for commitments made in Brasilia, also attended the meeting.
Meeting held on the afternoon of Monday sealed the deal

The company has not publicly confirmed the information published by Members. Since the second half of 2015, Mirabela and the State Government had been trying an agreement. She claimed to have a credit on ICMS that exceeded 40 million. In February this year the mining company, after several months embittering heavy losses (due to drop in nickel value), announced that it would stop the activities and gave notice to more than 450 workers. At the time, the ore pound price was U $$ 3.70. On Monday (21), nickel was trading at U $$ 3.95. The help of the state government in the release of ICMS credits must give a breath multinational company operating in the municipality of Itagibá since 2009. The mayor of Itagibá, Marcos Barreto, Marquinhos, one responsible for mining-government connection, celebrated done deal. (Working in Ipiaú)

Link:http://www.giroemipiau1.com.br/2016/03/governo-e-mirabela-fecham-acordo-e.html

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Now for the interesting part......in the MBN statement, it said that the share holders (i.e. creditors who still own 500M+ MBN shares) will continue to support MBN if they get all the VAT refund (which seems to be the case), plus MBN have also negotiated further production cost in transport and shipping which is an additional bonus for these creditors and potentially export deals with China.
And the 2nd creditors meeting is coming up end of this month...............perfect timing, hey, @jantimot

MBN Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
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