Ann: MBN Operational Update, page-244

Stunning news.
C&M for MBN, all staff laid off. Whole region going bust with 1000s more unemployed.
I bet the Brasil Govt and state Govt & Ilheus port didnt expect this after last weeks assurances by the CEO CFO to them.
A PAN MCR like move.

Yet the BRL is better 4.03 now and NP hasnt moved and been in the same downrange (3.60-4.10) now at 3.73 (other than that temporary 3.50 drop which it rebounded out of sharply).

So if the COP is 2.80 say and stockpile deliveries for 6 months at 2.05uslb with NP at 3.73 then thats still a large margin of +$1-$2uslb so why give up US$130M of income to 0M unless this is a corporate play to force a buyer/bidder to move.

Interesting that the media quotes that it is in fact Norilsk that is getting the ni conc rather than the chinese mills like Dongfeng where the boats went, surely that cant be true as it was Norilsk that breached their offtake deals in 2013 that caused the DOCA in the first place. Have Norilsk been the secret real offtake buyers all this time and not the chinese? If so then why did they in 2013 breach only to resupply in 2015 unless they were the good wolves from the start trying to takeover for cheap?

If C&M costs $30M pa (stated in 2013) (more like $10Mpa on my maths now) then there goes their cash at bank of $8.4M by December and they will need more capital injected to fund that rather than continue treading water now. As the creditors are also the large holders other than Abbott etc, then this means the sale is dead and additional rescue funds will now be needed for sure meaning the LPM is over and cash will be dropped to 0.

This contradicts the LPM and last announcements.
Stage set for a white knight to come out and save the region and mine?
Why have the yanks allowed the CEO CFO to remain in their positions?
Why is is alleged Norilsk is the offtake buyer?
Why did the CEO CFO make all those assurances to Govt last week only to have them look like liars?
Who is really in charge here?
Why would the yanks suicidally shutter when the LPM was working with BRL lower and NP the same as before?

This does not make any sense. It would be suicide.
The local area is devastated and value destroyed by this. Forget selling, its now a new CR in play if the bidders dont come out soon. Do the yanks really not care about their US$500M debt or the goodwill or loyal hard working locals? If they shutter the lot it would bring in a need for "liquidity" by April just like with QN.

Doesnt sound like a safe and stable investment to me?
Doesnt sound like an LPM to me.
Sounds like blackmail or suicide.