keep an eye on these guys.... they now have yours and our shares.... given on a platter, a juicy suckling pig with an apple in its mouth... tasty now after the slaughter, but not so for that little pig.
Glad they renewed their management? Not sure 'glad' can be the word used anythere near the context of this current situation. This deal was engineered for maximum benefit to the note holders. Perhaps when Lease and Operational Details are given, only then can anybody really swallow that $450 000 in salary for Ms Belanger... for all we know, they could all be token directors getting a fat salary whilest mine is running at minimal capacity and efficiency.
Notice the last co. update, the Operational Costs were almost as high as Sales... ultimately, EDITBA was net negative. There is that unknown about Norilisk as well if I recall. Cash flow matters not until better clarity about where its going.. its not even clear that the company is running as proper entity- what other millions, fees etc is still waiting to be disclosed to be paid to this restructure? Yes they say the administrators are gone, but good business instincts must not be ignored. "if it looks and has been running like a dog, then it must be still a dog, and will take quite abit of time to nurse back to health..." It is now in the companys goal to talk of the "success" of the restructure. Everyone, pls bask in it. Talk about profit, Nickel Prices, etc when the fire has only barely stopped burning that ship....
The case of a rusty ship with a layer of chrome painted over the top now- for a lease of life.
Lets see now if these holders are here for the long haul to reengineer this hull and ship...or if its a matter of "spruiking" up the ship further, then jump ship!
Only good thing is the low price atm... at 14.5c, I do agree it makes no sense for any large holder to push this lower. Doesn't mean it can't or won't treeshake to 11-12c briefly before the next pump and dump. I wont be touching this risky proposition at anything over those prices... 14.5c is not low enough when it comes to a share registery of creditors like this group here- if it dips to those prices brieftly, a trader stands to gain if it returns to current 14-15c supports..
At 14.5c SP it is now back to the SP on the 3rd day after MBN re-opened. In total that is about 85 million trades went through in those 3 days. It was only on the 3rd day with about 40mill vol that MBN moved from 6c to 15c - hard to imagine any of those buyers would not have sold in the rise after that... also can't imagine much benefit to the creditors to treeshake this stock from 15c downwards to grab such small volumes from initial retail buyers who were good enough to catch this on the rise. Chances are if they did, those holders may cut loss and Sell- returning more shares to them at a lower price for the next pump.
Will it go to 11-12c from here?
Guggenheim Capital LLC and associate companies Buy -- 13.64 --
The Capital Group Companies, Inc. Buy -- 6.95 --
Deans Knight Capital Management Ltd Buy -- 5.75 --
Pioneer Investment Management, Inc Buy -- 10.71 --
Sparinvest Holdings SE and its associated companies Buy -- 16.62 --
Lord Abbett & Co, LLC and the entities Buy -- 7.94 --
Legg Mason, Inc and Western Asset Management Company Buy -- 7.25 --
Lonestar Partners, LP Buy -- 6.02
maryse Belanger $450 000
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