What Ni producer just spent US$16M on capex, or has margin expansion from 18% to 21% or has 15,000T of ni conc in their tailings dam, or has profitable production, or has just hired thats right hired 60 staff in 3 months from 540 at AGM to now 600 according to brazil govt website, what ni producer hides its cashflow & profits & refuses to advise its chinese offtake buyers to the market calling it a secret?
None
If it were PAN or wsa they would skywrite a tender for offtake then announce the winner was Jinchuan again or BHP again as Big news, not MBN, its all secret.
What Ni producer would keep massive secrets, underannounce Big news and over announce negative news like-
- 2 massive buyers of its stock, BCEE & Wellington,
- constant negative worded announcements of "plant shutdown" when they really meant 3 days of minor railings repairs with no affect on production,
- secretly announce 20% offtake committed on p 35 of the Q1 report
- secretly negotiate -5 year offtakes without telling the market any status or news for months on end
- secretly cover cash & profit with creative accounting like CN adjustments, forex losses & capex spending
MBN has the tightest share register on the ASX with only 1% of free float available to buy and sell right now or 10M shares imho, its dried up and the large buyers keep buying, with illiquidity and lack of sellers there is only one way this is going, up.
As for SIR, please dont compare that white elephant mother of all ramp & dumps for a black hole in the stranded nullabor with MBN the lean mean cash liquidity rising production machine.
You are comparing chalk & cheese - one has massive infrastructure, 600 staff, no current debt, MC of $97M while the other has -$120M loss pa, massive cashburn, massive debt building, 2 years of pain, massive MC of $1,140M 12 times higher with no production and no income all for a small mill of 1.5MTpa capacity.
If IGO thinks SIR is worth $1,400M with smaller mill smaller production at high grade then whats MBN worth to a suitor? Not $100M i guarantee you that. Yes MBN has smaller grade and higher costs but its a producer with no current debt and if its profitable here its profitable anytime.
Once the BRL collapses in weeks according to socgen or NP spikes according to Stevenson, Citibank, Platts, ANZ and many others, then watch MBN start burning those rocket engines like before in the N2 Eclipse.... they wait for the signal. It has already shown in the last 2 months that it is a NI industry leader and has held its ground unlike wsa pan mcr all down 50%+.
This time though, there are no shares left to buy, no debt to criticize, booming production, with 15,000T of ni conc sitting there ready with the tightest share register on the ASX that will make the spike more pronounced than ever before.
If you dont believe me, then sit back and watch. If you think it may happen then worth a punt with 10K right?
Why would BCEE & Wellington be buying in 5.5% & 10% respectively, why did the HC rebels buy in 6.5%? Why did the US NHs not sell out en masse at 23c-44c in July 2014? Why does MBN keep all these secrets from the market?
MBN Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
