Yes, but the difference this time is.
1) As indicated in Q1 MBN has a positive net cash increase of 8M (+1.37US/lb) after subtracting capital expenditure and payment but also loss 4M of foreign currency changes for the quarter? imaging if they didn't? But the record low nickel price where as report by the market 65% are of nickel producer are making a loss at these record low nickel prices really stuffed MBN but I think not as bad as the others going by the Q1 and Q2 COP including royalty numbers.
Whereas last year MBN was making multi-million dollar loss despite their high nickel sales price of 6-10US/lb due to the COP being even higher as the REAL was more than 50% higher. For 2014, Q1 COP including royalty was 7.68 (using REAL of 2.36) and nickel sales price was 6.07 so -1.61, Q2 COP including royalty was 8.91 (using REAL of 2.23) and nickel sales price was 6.91 so -2.0, Q3 COP including royalty was 9.61 (using REAL of 2.28) and nickel sales price was 10.01 so +.40.
2) Some of those convertible note holder who gave 55M (still debatable that they received 115M) to MBN also swapped 450M for 900M shares so they are now share holders and the debt now is technically only 98M as indicated in the fins report (and brought up in the VA meeting) and not the 400-500M debt last time.
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
