Cash in hand and deposit is 16.24M as reported at the end of Q2, the last 100M loan, they spent heavily on equipment and operation production improvement, hence they got the COP including royalty down from 5.23 in Q1 (using a REAL of 2.88) and down further to 4.72 or 10% for last quarter (and that is still only using a REAL of 3.07 from 2.88 or 6.5%) with the 16.24M remaining.
If the payment are delay they can't be included it in the current quarterly reports so it will actually make the cash flow look worst. By my calculation they shouldn't have any cashflow problem for another 2 quarters if the nickel price remains at 4.5 and COP remains at 4.72, but they will be burning through their cash in hand and deposit as reported at end of Q2, however I could be wrong.
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
