Ann: MBN Resignation of Company Secretary, page-17

3.3US/lb???? disagree there, maybe around 3.8-4US/lb including royalty from the Q2 number of 4.76US/lb (don't forget some of their expenses are paid in USD!!!!).

Like last time when they tried to sell MBN but could only get an offer of around 220-240M USD (this offer included a 100M cash injection), all those bidders had to go through a process of signing confidential agreement to get those figures and since MBN is in VA they don't need to disclose these number public unless they re-list.

Note, MBN had very high COP including royalty cost (all of the potential bidder thought they would be cash flow negative for a while post capital expenditure which is still likely the case now but likely only around 4-6M USD per quarter this time).

I don't think they can keep this VA for a year, they will either need to get additional funding and re-list which will allow them and us to average down from sellers that are not optimistic about the nickel price and especially the REAL or they will sell at a loss they are happy with......., either way we will know in a month.

And no, they don't have 400M USD invested, from my calculation these convertible note holder and substantial note holders have around 130-150M USD still in their original investment (which is still a lot of money) but not 400M USD, the other 30% note holders already sold to retailer and Wellington and BCEE.