Those who have bothered to have listened to the audio will know that Milson said that for every 10% that the Brazlian Real depreciates against the $US Mirabela gets a $30 million benefit.
The Brazilian Real dropped again last night and has now dropped against the $US by about 17.5% since Milson did those numbers. So if he is correct, Mirabela's position has improved by about US$ 50 million per annum just in the last few weeks alone!
I do not know what nickel price he was basing his forecasts on but it may have been higher than today's $6.47 per pound. Hew did give a figure for the exchange rate he was basing his $30 million forecast on. It was 260 Real to the dollar. It is now about 305 Real to the dollar, so these calculations (to arrive at $50 million p.a.) are easy to do.
A $50 million p.a. improvement - and the market capitalisation of MBN is ....what?
This is becoming more of a no brainer by the day.
The sub 10 cents share price simply cannot last.
Forget what the day traders are doing to this stock.
It is seriously, very seriously undervalued.
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