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8.3¢ mirabela nickel limited

They can sell it for as cheap or as dear as they wish, that is...

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shane.hardy

3,012 Posts.

27/12/16

20:17

Post #: 21567338
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Originally posted by user23 ↑

What? The unsecured creditors will have first bidding rights?

It's the legal responsibility of the liquidator to sell the mine for as much as possible, from all bidders. If the mine is sold for cheaply (and it's to these secure creditors who are also substantial and majority share holders), do you think that is legal? if they sell it cheaply to someone else, then it will also "leave the old share holders high and dry" and this would apply more so to them as they are majority share holders in the same situation as us retailers.

BTW, C&M funds was only meant to last them at least until end of September as indicated in the report in June (they only had funds left of $1.5M USD), so a quarter ago it has "dry up".
You don't think it's logical these creditors/substantial share holder wouldn't inject another $5-6M USD to leave it in C&M for another year and protect their 100 of millions they have initially invested in MBN? At least do some DD before commentating, I do that for AVQ.

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They can sell it for as cheap or as dear as they wish, that is up to the creditors and how they believe it best reflects the benefit to the Country...our ASIC HAS NO CONTROL over what they can or can not do their.
one of the reasons they will relist over their...I HAVE DONE MY DD thanks

MBN Price at posting: 8.3¢ Sentiment: Sell Disclosure: Not Held
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They can sell it for as cheap or as dear as they wish, that is...

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