Did you listen in to the conference call and hear what the CEO had to say? Did you not get the sense that this woman is driven to get the operations back on track?
The future of MBN depends on the outcome of the supply/demand equation for nickel; whether the market will turn to a structural deficit; whether the new CEO can get cost down to around US$6 pound; whether MBN can secure an off-take agreement for 2015+, ............. .
The recently announced Chinese interest rate cut will not hurt and a favourable outcome for the dispute with Votorantim might help the bank balance.
Lots of ifs and that is why the price is 3 cents.
Finally, this presentation by Macquarie gives a good insight to changes in the market for nickel.
