senior debt financing update, page-4

DUDE

If I could buy some MBN shares at $.18 right now I'd be pretty happy! Especially if it's going to $3.20 by next year.

I'm aware 4x is expensive right NOW. Interesting to see how long that remains for, especially in nickel industry. I'm not talking weeks or months here. The fact is the world MAY be slightly oversupplied in 12months, but with the likelihood of no new projects announced 2009, and as a result no projects in start up 2010. With LONG TERM world demand only going one way, low cost nickel companies are not going to be sitting on a PE of below 4. If MBN are sitting on a projected PE of 4x when/if they post their estimated NPAT in 2010/11 I'd be very surprised.

My figures only represent a possibility if you're taking a long term view. Out of interest, MBN were trading at $5.92 and higher about three months ago. Given, nickel was just above US$9/lb then, but AUD was at .96 not .65 where it is now, he nickel price is actually about the same in AUD terms now as it was then.

So, no, not "deluded" here DUDE.

Oh yeh... "for goodness sakes!" if you're going to be "tossing" around words like "de rigeur" at least spell them properly.