Yes, I wouldn't be hurrying off to delisted.com just yet.

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ramblehe

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25/08/16

21:45

Post #: 18694107
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Originally posted by user23 ↑

I agree, normally that is the case, VA is called, creditors get the worry and chose to liquidate the company reasonably quickly to recoup their initial investment, however, going by the trending of the production cost decreasing, this was still a viable operation but as always expected they needed to cover the 4-6M USD capital expenditure cost per quarter which isn't that bad comparing this to the other nickel producers who are losing way more.

Next month this would have been in VA for a 1 year and the VA (acting as the liquidators) still indicated the sale process could last at least another 3-6 month and that is taking into account MMB paying the 3M USD mining fees that was due last month and they seemingly can stay in C&M until at least next month so around 1.5M USD per quarter (similar cost to POS).

My take is they will sell this to recoup some their initial debt for shares swap, if nickel price looks good, it's possibly they could pay the ASX listing fee and re-list and then move to TSX (which they seem to want to), I can't see them planning to do a dodgy deal and buy MMB cheaply as they would have done it already after the 37.5M USD unsuccessful creditors bid unless this could all be their plan to orchestrate this bid legally????

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Yes, I wouldn't be hurrying off to delisted.com just yet.

MBN Price at posting: 8.3¢ Sentiment: None Disclosure: Held
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Yes, I wouldn't be hurrying off to delisted.com just yet.

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