@jantimont, I checked those sites and if you zoom in many ships are actually moving through shipping channels. The are just sailing close to the coast.
I believe the VA was appointed to actually defer debts... when it is appointed it means that payment is not made until a resolution can be found, this means the interest payments have stopped and the company can actually tread water easier until the time comes that the nickel price recovers.
Otherwise servicing the debt with the low cash balance would have been a disaster - we are for the time being operating as if we had no debt which has lowered out cost of production significantly. In the hope the price recovers to a more sane level we will then be able to refinance or sell for a great price if the global economic situation looks more promising.
MBN Price at posting:
8.3¢ Sentiment: None Disclosure: Held
