down again, page-17

ppaton is right,

MRE will be lucky if it can avoid bankrupcy. Based on the FY08 figures MRE was producing nickle at about A$9.28/lb including the cobalt credit. Since then acid prices have gone up (a lot) and cobalt prices have fallen.

I'd be pretty comfortable in saying they are trading at a loss at the moment.

It won't take long for its cash surplus will be used up then it will be curtains until the absence of a couple of the laterite nickle producers starts to constrain supply.