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donnie
30-10-2006, 10:24 AM
This could be a good long term prospect with production starting in 2008.


Resource within open pit limits

Preliminary pit optimization studies indicate the following JORC Global Resource lies within open pit limits:

52.0 million tonnes grading 0.60% Ni, 0.14% Cu Strip ratio 6.6 : 1 Representing 312,000 tonnes of
contained nickel

This result exceeds the previous August 2005 estimate (39 million tonnes grading 0.62% Ni) by 33%.
The larger resource within open pit limits represents an exciting development for the Company, as it extends
the project life and opens up the possibility of additional downstream processing. As compared with earlier pit
studies, a lower cost of mining (from US$1.20 to $0.90 pt material) and a higher nickel price (from US$4.00 to
$4.75 lb) enabled a modest increase in the strip ratio.

Drilling to convert the remaining 5.6 million tonnes of Inferred resource (within open pit limits) to Indicated
status is already well advanced. The majority of this Inferred resource lies within the Central zone near the
base of the projected pit.

A total of 56 holes for 17,600m were planned to increase confidence levels in deeper sections of the resource
and to convert Inferred resource located within or near open pit limits to Indicated status. Already 41 holes for
11,600m of this program have been drilled, with an additional 15 holes for 6,000m to be completed within the
next two months. Excellent preliminary results have just been received for the latest 11 holes, which will be
the subject of a separate announcement upon receipt of final assays.

Early planned production

Preliminary pit scheduling suggests that the first 3.5 years of resource available for production will comprise:
14.2 million tonnes grading 0.66% Ni, 0.16% Cu Strip ratio 2.9 : 1

The scheduled grade for this early production exceeds the previous estimate (0.64% Ni), due to relatively
higher grade results from near surface infill drilling.

The Company intends to convert 8 million tonnes (the first two years production) to JORC Measured
Resource status to reduce the perceived risk of paying back capital expenditure on the project. This program
is estimated to require about 160 holes for 16,000m at a drill hole spacing of about 20m x 25m.



Commentary

This announcement confirms Santa Rita is South America's largest nickel sulphide project and the largest
greenfields nickel sulphide discovery anywhere in the world in the last 10 years.

Mirabela Managing Director Mr Nick Poll said “We are very pleased with the way the resource has
proven up following extensive infill drilling. Our early estimates for the resource have been verified and
in places expanded. The life of the open cut mining operation is now increased from ten to thirteen
years with plenty of room for this to be further increased.

Just as important, the confidence levels are greatly improved with 90% of the open cut resource now in the JORC Indicated category” Mirabela expects to complete the Santa Rita Bankable Feasibility Study in April 2007 with commencement of production planned for the end of 2008.

"This is a major achievement for a Perth-based, ASX-listed company operating internationally. A proposed
listing on the Toronto Stock Exchange will give Mirabela access to North American equity markets ahead of
project financing in mid 2007," Mr Poll said from Brazil.

"With production of over 17,000 tonnes per annum of nickel in concentrate planned from late 2008, Mirabela will be among the top five nickel producers listed in Australia.

Our planned scale of production and mine life is strategically significant for smelters and the available local infrastructure greatly enhances the project's feasibility." Mr Poll said.

Santa Rita’s concentrate specifications are expected to be confirmed by December, 2006.

"We are in discussions with smelters and the market for selling nickel concentrates remains very strong.
However, we will await final specifications from the Bankable Feasibility Study before proceeding to

edison
30-10-2006, 11:30 AM
Donnie,

I totally agree with u on this one. I have been in and out of it recently, but I am still watching it from the sidelines, and I mentioned it earlier in the Nickel thread.

It is not a traders stock because of low volume. So this stock is fantastic for long term holders :) Also look at the major shareholders which include Platinum Asset Management and Inco, which both are great companies.

ratkin
23-01-2007, 05:47 PM
Significant new discovery today, onwards and upwards

ratkin
25-03-2007, 01:23 PM
Very good research here

http://www.allegiance-mining.com.au/default.asp?id=66

its the fox davies capital report you need to look at

cjh
26-03-2007, 10:48 PM
MBN trading on Toronto exchange [MNB] from 26/3.

ratkin
27-03-2007, 05:47 AM
upo 2.2% so far on canadian exchange, only 9000 volume though

ratkin
27-03-2007, 12:27 PM
Hit an all time high today, this stock is going to be a multibagger in the next few years.
Even if the Nickle price drops two thirds in value then the stock is still cheap

ratkin
05-04-2007, 02:31 PM
Well, up over a dollar in a week 5.50 and climbing, this stock is a star

ratkin
06-04-2007, 09:16 AM
Read this report just out, they have upgraded targets due to more nickle being found

http://www.minesite.com/fileadmin/content/pdfs/Broker_Notes/Mirabela_Nickel_-_Flash_Note_-_3_April_2007.pdf

The stock will be well up again on tuesday as it has gone crazy on the canadian market overnight , the canadian listing is helping bigtime, volume is increasing too and the stock is in heavy demand

ratkin
07-05-2007, 04:36 PM
Now past the 7.00 mark , seems to attract less attention than many nickle stocks but so far has not put a foot wrong.

ratkin
22-11-2007, 05:10 PM
30% Upgrade in pit size today.

Fantastic stock this one , tightly held, well managed , top notch. Has been a rollercoaster ride the last few months , those of us who have held through it will be well rewarded in years to come.

shasta
09-09-2008, 04:49 PM
30% Upgrade in pit size today.

Fantastic stock this one , tightly held, well managed , top notch. Has been a rollercoaster ride the last few months , those of us who have held through it will be well rewarded in years to come.

MBN - Hedges part of its Nickel & Copper production

http://www.stocknessmonster.com/news-item?S=MBN&E=ASX&N=420244

ratkin
19-10-2012, 02:38 PM
The rat is now back in

Last time i sold these , they were around seven dollars
Now a pleasure to be picking them up at .46 cents

They still a good company, but like the rest of the nickle brigade have been at the mercy of the falling price.
The nickle price starting to show a few signs of recovery

Bobcat.
03-10-2013, 01:00 PM
A very long time since this stock has received much sharetrader attention.

It's just been advised by one of its two largest largest customers (Votorantim) that they will be closing their smelting and thereby stop purchasing nickel concentrate from Mirabela as of end of next month. If that's not serious enough:

1. their bank loan ($50m with Branco Bradesco) is secured against that business
2. if Branco Bradesco triggers immediate repayment, Mirabela's $395m unsecured notes are put at risk
3. and now this morning there's an announcement that S&P have revised downward their credit rating from B- to C+++ (and on credit watch with negative implications).

Oh, how the mighty have fallen.

I've traded into this stock this morning looking for a short-term 20% deadcat bounce off 1.1.

But as a long term trade - nah. It's costing more for this company to dig Nickel out of the ground than what the market is prepared to pay. Now that's a very slippery slope.

BC

macduffy
03-10-2013, 01:45 PM
Could be an interesting punt, Bobcat!

It's bad news for shareholders but could have a silver lining for other Ni miners as another smelter - and a chunk of its supply of ore - exits the market.

tosspot
03-10-2013, 02:19 PM
you have balls bobcat not sure I would at the moment though. seriously looks like they are going towards 0. maybe a quick trade if it hits 0.08 for me

Bobcat.
03-10-2013, 02:33 PM
Still falling.

Call me crazy but I'm averaging down with a larger bid in at 0.9.

I like to buy where fear has created a panic but of course timing is important, and tomorrow may be wiser (after the S&P rating downgrade hits more of the press).

BTW, Reuters still have them with an NTA of 15c per share.

Bobcat.
03-10-2013, 02:49 PM
Well, I've just now picked up my bundle at 0.9c and then trading stops. Something positive ? Yeah, I know - wishful thinking.

Waiting with abated breath.

BC

---------------------

Moody's have also downgraded - hardly surprising. All the bad news may now be out in the market.

That being the case, I'm anticipating a bounce back sometime today or tomorrow. Knowing when to sell is of course the remaining half of this challenge. High risk / medium reward. I see buyers coming in now with solid support at 0.8c. Keep it coming...

Bobcat.
04-10-2013, 09:53 AM
you have balls bobcat not sure I would at the moment though. seriously looks like they are going towards 0. maybe a quick trade if it hits 0.08 for me

Did you get yours at 0.8c, Tosspot?

I've averaged my purchases at 1.0c - anything above that is profit. Selling tactices are of course just as important. My target is 1.5 (the stock's max price these past three days) but I'll first gauge momentum before placing.

Even with a Tsunami, the wave eventually reverses (albeit temporarily).

BC

tosspot
04-10-2013, 11:22 AM
Did you get yours at 0.8c, Tosspot?

I've averaged my purchases at 1.0c - anything above that is profit. Selling tactices are of course just as important. My target is 1.5 (the stock's max price these past three days) but I'll first gauge momentum before placing.

Even with a Tsunami, the wave eventually reverses (albeit temporarily).

BC
Unfortunately not. had about 10m shares infront off me. I guess today will tell whether i missed out or not. dont want to buy above 0.9c

macduffy
04-10-2013, 12:46 PM
From ShareCafe.

http://www.sharecafe.com.au/sharecafe.asp?a=AV&ai=27745

Nothing new, but a good summary of recent events.

tosspot
04-10-2013, 04:14 PM
Did you get yours at 0.8c, Tosspot?

I've averaged my purchases at 1.0c - anything above that is profit. Selling tactices are of course just as important. My target is 1.5 (the stock's max price these past three days) but I'll first gauge momentum before placing.

Even with a Tsunami, the wave eventually reverses (albeit temporarily).

BC
well done. im absolutely guttered i missed that

Bobcat.
04-10-2013, 04:47 PM
I'm out at 1.5.

MBN is now trading at 1.6 and will probably go higher but I'm happy with 50% profit from the past 24hrs (praise God). Timing is (almost) everything. Keeping it on my watch list for the next wave.

BC

percy
04-10-2013, 04:55 PM
I'm out at 1.5.

MBN is now trading at 1.6 and will probably go higher but I'm happy with 50% profit from the past 24hrs (praise God). Timing is (almost) everything. Keeping it on my watch list for the next wave.

BC

Well done.!!!

soulman
04-10-2013, 06:16 PM
I'm out at 1.5.

MBN is now trading at 1.6 and will probably go higher but I'm happy with 50% profit from the past 24hrs (praise God). Timing is (almost) everything. Keeping it on my watch list for the next wave.

BC

Good work Bobcat.....Well timed.

soulman
26-11-2013, 08:31 PM
Since the last post, MBN has been in suspension.

Looks like Bobcat is well blessed with his sell......

klid
12-02-2014, 03:00 PM
I have had 100,000 of these puppies stuck for a while now.
Who else is a holder?
They're meant to be announcing whats happening with debt restructuring today! Expecting an announcement any moment.

Bobcat.
12-02-2014, 03:10 PM
Their latest quarterly report wasn't as bad as it could've been, so perhaps there's some hope.

http://www.asx.com.au/asxpdf/20140131/pdf/42mfx6zlc521l6.pdf

But you're right, today is the Deadline for recapitalisation and financial restructuring. If they miss this deadline, will the consortium extend it again? Probably - IMO, they have more to lose in not doing so.

We should know by market close (or soon after).

BC

Discl: not holding but may take advantage of the volatility once they start trading again...assuming they do.

klid
13-02-2014, 03:31 PM
And they did extend indeed - 20th of February now.
I guess if they've lent $45m they must have confidence about coming to some arrangement.
What will happen to my value which was $1,600 AUD once all this is done? Haha - I actually made some money on this company in the second half 2012 at least.

klid
21-02-2014, 02:34 PM
They... "have agreed to extend the deadline for the perfection of this security until midnight, New York time on 24 February 2014. In addition, the Company and the lenders have extended the deadline for executing a definitive agreement for restructuring and recapitalising the Company, to the same date and time."