I think most is to do with the facts that MMB (wholly owned subsidiary of MBN) is still able to remain on C&M starting in April 2016 with "supposedly" 5.5M USD cash on hand until at least end of September 2016. And it was BAU operations (admittedly with decrease production capacity) from the VA called in September 2015 to March 2016, all this could have happened while MBN was still trading yet it was still in VA and give us investors to decide whether to continue to invest in MBN or sell? Unless these creditors did put in additional funds during the VA, which goes against the low production cost (which the receiver also indicated while they were trying to sell the mine) so I highly doubt they added additional funds given the low production cost.
Cash balance did increase to 9M USD at end of 2015 from around 6M USD reported in mid 2015, then there was the 25M USD settlement, and now MBN is "supposedly" out of cash where 5M USD was spent on just legal and appointee fees (I think these cash fund was transferred to MMB.....).
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
