Ann: Quarterly Activities Report and Appendix 5B , page-2

re: Ann: Quarterly Activities Report and Appe... Interesting... Comsec research report now says brokers have upgraded their view on earning by approx 4x for 2010 financial year.

Macquarie has the following to say (released prior to report on 12 Oct 09):

Mirabela has commenced the commissioning of Santa Rita. The broker notes MBN is unique among the six nickel stocks it covers, having a nickel sulphide reserve providing a 20-year mine life and a relatively confident production throughput expectation.
But while there are always risks to be assumed, the broker notes MBN is also the only nickel stock in its universe trading at a discount to net present value which thus takes account of those risks. The broker can only see that risk gap closing over time, so retains Outperform.

The target has increased from $2.29 (Apr) to $4.00.