CCDavid
Yet MBN is not insolvent, it was stated as being safe and stable.
Could be a ploy to call in the CN & Banco bradesco facility and refinance it by W or BCEE as its now due immediately with a 0 face value as it cannot be enforced in administration and it the interest is paid on time there is no debt default.
What puzzles me is the missing cash from sales of produced stock of $65M & $23M. They never stated there was any problems with the offtake or cash payments for deliveries.
I cannot see why W or BCEE or US NHs would allow their $500M investment & $20M cash payments for shares to go to 0.00...it doesnt make sense.
33 emails and counting for the class action.
I am making calls this week to the solicitors and class action specialist lawyers & IMF
creditors meeting may reveal the truth or any bids.
If they relisted in Feb on false information to market then thats unlawful. Even as late as the Q2 report no such info or insolvency, late payments, offtake sales problems, cashflow to 0 or large capex of $22M was revealed or announced. Investors traded the shares on the info presented not that it was insolvent or had no cash.
If small AGR of brasil can get $9M cash in 3 days with no income or sales or profits for fertiliser studies then MBN can and should get $50M easy for cashflow positive massive production with massive infrastructure.
I think the white knights will now emerge to save it and take it over otherwise everyone loses especially the US NHs more than us and it ends up in court. Otherwise they would have shut the mine also
