Mireblea is certainly hitting lows at present. With an insto cap raise of 1.60 in aust and 1.52 in Canada. This has pushed the share price down to lows not seen since the gfc. It is producing 2400 tonnes a quarter in a open cut mine that will last 19 years. Nickel is off its high in march at 29000 a tonne, now at 23000 a tonne. Yes it could be argued that the grade is only 0.55, but this is considered very good especially the size of the resource and the easy access. So when the demand for nickel begins to rise, with the cap raise behind them, 1.58 will seem a distant memory.
Brownie
MBN Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
