However, we have predicted that MBN should have been able to reduce their COP due to the fall in the REAL (as they have been reporting in their general meetings) and we thought they should be breaking even with these record low nickel price and now they have confirmed it to some extend with today's announcement (as expected by those that were looking at the COP trend from Q1 to Q2).
It looks like this has been caused by Wellington trying to enter the frame with their 30M USD loan offer and the convertible note holder clearly saying no so it's a power struggle between them and there is nothing we can do about it.
This has nothing to do with their production cost being able to withstand the low nickel price (as indicated by today's announcement) and nothing to do with insolvency issues so how can MBN be liquated? if it does liquate then there is definitely a ground for legal action.....and there are parties involved with a lot of money.
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
