Any hope for MBN?, page-590

COP including royalty of $4.72US/lb using REAL of 3.07 (it's been around 3.2-3.3 for a long time) so if they mine 3Kt per quarter and sell nickel concentrate at $5.33US/lb that is a profit of 0.61 so $4M for the capital expenditure for the quarter (which they were estimating and trending even during the VA), so yes, break-even post capital expenditure at these low PoN is a huge achievement but they would still have the $3M USD interest payment p.a for the Banco loan.
I personally think they are waiting for PoN of $6.5US/lb (which is still low for some nickel producer but very good for MBN), and it looks like it's possible early next year, $6US/lb is looking possible EOY.
Nickel concentrate consumption and demand projection has been stable for the last few years and will be around 2Mt this year, we need the LME to again start the decline for PoN to kick on from this rally.