Wasn't aware that they could actually sell it to themself...

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AlCp

27,135 Posts.

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20/04/18

15:56

Post #: 32590993
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Originally posted by Lucky Phil ↑

Hi Mufc-1,

Yes, it’s a good bet that Nickel price will eventually rise to a level that justifies a sell price for the mine and other assets that someone is willing to pay.

And yep, that buyer could even legally be the secured creditors themselves - according to QC this happens frequently - and they will then start mining before running an IPO to get more than double back on the price they paid (or in the reverse order).

MBN as we all knew and loved it won’t relist with us chumps as it’s shareholders because MBN simply does not exist anymore. She’s been dead and buried for over 2 years, is way beyond smelly and has fully decomposed - refer FH.

What will relist - if anything - will be a new entity where we won’t be the shareholders (even if it’s called Mirabela Nickel!) unless we buy in once again via an IPO or via the market if it ever goes public again: And it probably will relist but on a foreign exchange and to a new bunch of schmucks of which I won’t be one.

Matt and I have got a day aside next week to go though FH’s 2nd report to creditors to compare what they found with what (if anything) we weren’t told.

Has anyone else got anything yet?

Regards, LP

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Wasn't aware that they could actually sell it to themself cheaply, if that is so then I think we are all screwed.

The only thing I can think of is that the directors mislead us about their low operation cost (which the CFO also stated during the VA) given how low they are selling the mine for.

MBN Price at posting: 8.3¢ Sentiment: Hold Disclosure: Held
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Wasn't aware that they could actually sell it to themself...

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