Well I'll fire up my crystal ball... feed in the facts as known...

Well I'll fire up my crystal ball... feed in the facts as known as of today!
Firstly MBN has an extremely large low cost open pit Ni mine with some copper and pgm elements. Any company from BHP downwards would love to own. Theres no doubt that the $500 million spent to put into production is by far the cheapest deal around especially for 25,000 tonnes p.a output.
So to put on a value is difficult as a buyout /takeover will be viewed differently compared with a straight what will it earn now!
Based on earnings at todays price Ni $us 4.40, then I'll say very little profit under $us50 million or about 20c a share at best. remember no profit for 2008-09 a loss expected, 2009-10 expect another loss, 2010-11 slight profit if Ni rose up to say $us5-6 per lb.
I personally expect this recovery to take awhile a few years! But MBN shares should be worth a couple of dollars long term price about $us3-4 per share as takeover premium. Will be interesting that if 120 million shares issued will unlock the large tied up holdings of Dundee and Directors equal to 30% now but if no take up then only 15% later. Will be one to watch! until we see the details of the fund raising( success or not) and bank loans its impossible to put on a market price.
Move sentiment to Light sell as felt todays fall was closer to my estimate of $1.20- $1.40 but expect it to test this price soon. announcement (funding) will change everything again!
DYOR