Ann: MBN Operational Update, page-242

wow!
Last week CEO CFO promising to state government officials night shift not shutting, Govt backing MBN and continued employment and production.
Then the Operational update confirmed increased cash to US$8.4M wuth NCM & LPM period meaning profitable production ongoing and meaning COP must be at 2.70-3.00 now confirming my maths.

The mining shutdown may mean the stockpiles are used for 6 months but if they shut all deliveries and transport to port the whole region will go bankrupt.

Looks to me like CEO CFO made promises that the VA VR and yanks dont want to keep, they dragged their feet with staff cuts yet the VA VR allowed them to stay in unlike with CEO Bond or CEO Nick Poll.

Any mining shutdown if true would mean:-
- the sale is over for sure as their is no going concern to sell and no income or staff or goodwill to sell just the infrastructure and resources.
- No bids received for it & no one will buy a mine not producing with no staff
- the CEO CFOs actions were contradicted yet again by the VA VR or bad wolves
- the pressure has been ratcheted up on the brasil authorities
- the pressure is ratcheted up on the good wolves to bid now or lose the lot (could be a bluff)
- mining is not stockpile transportation
- pressure on the buyers/Chinese ratcheted up as they will call off deliveries to them also without support (maybe these are the good wolves)

At this rate the chinese will run out of Ni this year and the deficit will sharply increase from -300MTpa to -600MTpa setting up the mother of all N3 Eclipses wilder than even Stevenson ever thought.

The VA VR havent announced any C&M move but they have 6 months stockpiles to deliver which will actually reduce COP from 2.70-3.00 now to around 2.05 on my maths. Shutting the mining and using stockpiles is actually very profitable for them and may save them till December.

Why would you shutter MBN if cashflow was increasing and you havent needed to pump in $1 since Nov 2013? and in Q1 cashflow was positive and last 7 months cashflow has been positive.

Seems to me like a negotiating tactic to heap pressure on the bidders and good wolves and brasil go as shuttering when its profit producing and increasing cashflow is counterproductive and suicidal but it may be the last attempt by the yanks to shake out the bidders.

If I were the bidders or good wolves I would make the bid on ASX for 14c now costing only another $40M to take majority control and force a relisting and continued production. The bad wolves were expecting the good wolves to be forced to bid for US$400M but they refused and sat back and waited for their move.

Its checkmate for the good wolves in 5 more moves if they want MBN.
Dont believe for 1 second the yanks will liquidate and lose US$500M, if they wanted that they would have done in in 2013 and not the DOCA or again in Feb 2015 when they relisted it.

Lets see how the hostile buyers (good wolves) & brasilians respond to this pressure.