Aha! You're right! I calculated as nickel concentrate not Nickel in Concentrate, ah so my loss value would be 10x that. I was thinking I was missing one order of magnitude somewhere.
I calculated the production in the 6 months averaged to assume that production rate continued, this way to show worst case scenario how much MBN would burn a month. This is without taking into account the BRL change.
I wanted to show in an obscene case how it was impossible to burn through the cash reserves in that time. We should have been able to withstand a year at those levels on 16 million I would have thought!
What do others think?
MBN Price at posting:
8.3¢ Sentiment: None Disclosure: Held
