If you have another look at last 2 quarter reports, you will reconsider what you said.
Cash outflow for NEXT 12 months: 1. Repayment of loan $50m 2. Finance lease repayments $13m 3. Interest payments on $379m unsecured notes: $33m 4. Capital and explore budget ($40 - $18m already spent) $22m
TOTAL CASH OUTFLOW : $118m
Current cash $108m. ($10m short)
Last quarter net cash from operating ($108m-$141m+$11m+$17m+$2m)=-$3m
Relished nickel price $7.27
To be cash positive from operating, it requires nickel price to be over $7.4 around. But currently nickel is hovering around $6.30, capital raising is required if nickel price doesn't climb over $7.4
I was thinking to buy, now decided to sit side.
MBN Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held