HC MBN Shareholders List, page-95

By December 2015, according to the CFO, there will likely be in line with his and my estimates US$100M cash at bank = US10.3c per share @$0.79AUS = AUS13.0c per share, Thats higher than todays SP of AUS12.5c.

This is at the current BRL rate, NP projections & COP AISC they disclosed to market.

So wait to December and every 1 share that we own will have  13.0c cash at bank value. This excludes the value of the resources in situ ($16B), infrastructure & mill ($1B), goodwill and profit build ($1B) or mine life, equipment, chattels and tenement value/exploration spend valuation.

Having a cash value close to the same value of each share is unheard of. Apple Inc, MCR & PAN have 4-1 ratios not 1-1 ratio. Its known as cash to book ratios.

Why would i not want to have my shares valued at cash value. Cash is KING, it brings value to its holders through SP increases, dividends and buybacks just like it did with other famous US stock examples.

NP dropping to 5.95USlb does not affect MBN at all with its BRL rising from 2.98 to 3.03 overnight & AUS$ dropping 1% to 0.791 tnt. The BRL & AUS$ are shielding MBN from any NP drop, the same wont be true for domestic OZ Ni producers.