MBN - Mirabela Nickel

[Freeballinginawetsuit]

MBN has run hard in recent weeks on strong momentum, up 100% plus since March.

Recent consolidation in the mid $6 range with short term support at $7. Thin spreads on the boards with punters having to chase the SP for an entry.

I'm starting to get a bit nervous holding this one short term, its overdue for a decent pullback. Its reached my profit target so will be taking an exit today, Probably run further now

All the best with those with a longer term view.

 

[Lachlan6]

Looks possibly like it may be forming a double bottom pattern at the moment after a bit of a short term trend down. Completed the Wave 3 and possibly now Wave 4 and maybe ready to begin the last wave. Again double bottom can ONLY be confirmed if it holds onto support here and actually breaks throught to the upside at $6. I am watching this one after reading the recent Smart Investor article outlining those mining companies close to production.

Very nice divergence in the MACD a real positive going forward, however I stress needs to hold onto support. Nice trading action on Friday with big volume considering the market went to the $#%^ house. Watching, waiting.

 

[CAB SAV]

MBN

Like Nickel- check this one. Been holding since 06 @ .85c. Today $6.80 with big upside. Sit. in Brazil, Largest nickel discovery worldwide in last 12 yrs. Third largest nickel sulphide reserve in the world. Under development, mid 09 mine start. Reserve still increasing.

 

[traydor]

hi all i was wondering if anyone can tell me why mirabella which has a around 30 million ton .6% reserve is around 7 dollars when heron has over a billion tons at .7% is under a dollar i,m very confused thanks traydor

 

[CAB SAV]

Traydor, I've been long term holder of MBN & woudn't try to compare with HRR. Too many diffs. Best u just check their company presentations, both in May. MBN is miles in front.

 

[traydor]

Traydor, I've been long term holder of MBN & woudn't try to compare with HRR. Too many diffs. Best u just check their company presentations, both in May. MBN is miles in front.

hi cab sav i,m just comparing resource tonnages. can the sulphide be that low i thought sulphide was a higher nickle content....heron call there one laterite and its around 7 %.....i have also been a long term holder of hrr and i looked at mirabella at the same time ....looks like you have done well out of them mate........thanks for the feed back

 

[Goldmann]

Hi all

Anyone still holding this one... Just reading through my old D&D newsletter and wondering where some of these are now considering the recent hammering of the market... good buys everywhere - and the fundamentals of this one dont seemed to have changed... any recent news of note... I could be convinced to grab some I think... Nickel cant stay this low for ever...

 

[adobee]

Some strong moves over the past few weeks with this one.. Any one holding.. Some good news coming or just oversold some time ago ???

 

[michael_selway]

Some strong moves over the past few weeks with this one.. Any one holding.. Some good news coming or just oversold some time ago ???

Yeah nice move in recent days

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 14.6 -16.2 26.1 105.7
DPS 0.0 0.0 0.0 0.0

thx

MS

 

[drillinto]

Nickel stocks and Mirabela(MBN)


January 10, 2009

That Was The Week That Was … In Australia
By Our Man in Oz
www.minesite.com

Minews. Good morning Australia. It looks as if your market is off to a solid start this year.

Oz. “Encouraging” would be the correct description. The overall trend has been positive since Christmas, and there have been a handful of interesting upward moves in most sectors. Nickel stocks have led the way, perhaps playing their traditional role as “first mover” in a commodity-cycle recovery. Copper stocks were also firmer, along with iron ore, while some of the companies exploring for specialty minerals did very well. Coal and gold were the weakest.

Minews. Let’s start with the good news, because it seems that your part of the world is marching to a different tune to that being heard in London.

Oz. So I observed when passing through your part of the world last week. Business down this way is certainly tougher than a year ago, but not nearly as tough as what you’re experiencing. What’s driving interest in the Australian market is China, or more particularly, a belief that Chinese demand for raw materials will start to recover soon. Since Christmas, the metals and mining index on the Australian Securities Exchange has risen by 10.4 per cent, with 3.2 per cent of that coming last week.

Minews. Time for some prices, please.

Oz. Nickel first, because it is so often an early indicator of the overall complex of metals which make up the steel industry. Mirabela (MBN), which is developing a nickel project in Brazil, was the star of the week, rising 68 per cent to A$1.51. The rise looks spectacular, and is a welcome sign, but it needs to be seen as an example of what happens when you’re coming up off a low base. The fact is that Mirabela has a long way to go to reclaim the share price high set last year of A$7.95.

Another strong rise among the nickel stocks came from GME Resources (GME), up 44 per cent to A8.2 cents. However, like Mirabela, the devil is in the detail, because turnover in GME was very thin and the company hasn’t done anything since it reported the mothballing of its NiWest laterite project in central Western Australia last year.

The upward momentum in Mincor (MCR) shares better illustrates the current underlying demand for nickel companies that are in production, and that are benefitting from the start of what looks a useful recovery in the price of the metal. Mincor rose 16 per cent to close the week at A90 cents after it briefly touched A$1.00 midweek. The stock has now doubled since hitting a 12 month low of A45 cents in late November.

Independence (IGO) also joined in the nickel recovery, putting in a rise of A16 cents to A$2.34. And following on behind, Western Areas (WSA) rose 10.5 per cent to A$3.98, Heron (HRR) rose 16.7 per cent to A52.5 cents, and Albidon (ALB) rose 10.5 per cent to A21 cents, but did trade as high as A32 cents earlier in the week.

Minews. Encouraging, as you say. Iron ore now, and those specialty stocks, please.

Oz. Atlas Iron (AGO) was one of the stars of a stronger iron ore sector, as it put in a rise of 22.5 per cent to close at A$1.25. While that was a solid gain, that closing price was well short of the mid-week high for Atlas, which went as high as A$1.50. The rapid speed at which the stock moved is a good indicator that the week’s trading was dominated by speculators rather than by long-term buy-and-hold investors.

Among the other iron ore movers, Northern Iron (NFE), the Australian company working in Norway, rose 35 per cent to A$1.16 after it announced a sales agreement with India’s Tata Steel. Gindalbie (GBG), meanwhile, rose 15 per cent to A68.5 cents, while Brockman (BRM), one of the emerging small miners in the Pilbara iron ore district, rose by 37 per cent to A92.5 cents. BC Iron (BCI) did even better, after it announced an upgraded resource. It doubled from A19 cents to A38 cents.

Also on the up, Cape Lambert (CFE) was 13 per cent to the good at A26.5 cents, IMX (IXJ) rose 25 per cent to A25 cents, Giralia (GIR) rose 16 per cent to A39.5 cents, and Golden West (GWR) rose 16 per cent to A32.5 cents. Lastly, Mt Gibson (MGX) rose A3.5 cents to A46 cents, despite suffering a shortfall in a rights issue that was designed to raise A$96.5 million in fresh capital.

Minews. You seem to have forgotten the specialty metal explorers.

Oz. Just getting to them. It was in this sector that we saw a very strong recovery in Windimurra Vanadium (WVL) which continues to make progress with its eponymous vanadium project. Last week saw a sharp revival of interest in the stock as it rose 43 per cent to A31.5 cents. We will be reporting in detail on the company in a few weeks time. Across the way, Spitfire (SPI), which reported encouraging news from its manganese exploration, rose 46.7 per cent to A8 cents. Another manganese company, OM Holdings, which offers the added spice of being under threat of takeover, rose 12.5 per cent to A$1.26. And Vital Metals (VML), a tungsten explorer which went very quiet last year and had been presumed by many to be on its last legs, showed signs of fresh life as it put in a modest rise of half a cent to A7 cents.

Minews. All good news. Time now for gold, which seems to have been a little flat.

Oz. It was the weakest sector last week, a function of the gold price going nowhere and the Australian dollar holding at an exchange rate above US70 cents, following a few very weak months late last year. Most gold moves were down, but not by a lot. Kingsgate (KCN) eased back by A28 cents to A$3.52, Troy (TRY) slipped 14 per cent lower to A97.5 cents, Apex (AXM) dropped A4.5 cents to A42.5 cents, Centamin (CNT) fell by A1 cent to A92 cents, and Silver Lake (SLR) fell by A2.5 cents to A26 cents. The only gold stock swimming against the tide was Kentor (KGL), which announced a small maiden resource at its Savoyardy project in the Kyrgyz Republic and rose 14.3 per cent to A4.8 cents as a result.

Minews. Time left for the rest of the base metals, and the two energy sectors, coal and uranium.

Oz. A few of the copper stocks showed signs of solid recovery, and Equinox (EQN) and Anvil (AVM) led the way. Equinox, which continues to ramp up its big Lumwana mine in Zambia, rose 24.5 per cent to A$2.03, while Anvil was up an even sharper 75 per cent to A$1.75. On the downside, Marengo (MGO) slipped a tenth of a cent to A7.5 cents, and Hillgrove (HGO) eased back by A1.5 cents to A14 cents.

Zinc stocks were stronger, led by Kagara (KZL), which rose an eye-catching 38 per cent to A64 cents. CBH did equally well with a rise of 43 per cent to A6 cents, and Terramin (TZN) rose 16.7 per cent to A52.5 cents.

Uranium stocks were generally stronger too. Wildhorse Energy (WHE) led the way with a rise of 40 per cent to A14 cents. Also on the up, Uranex (UNX) rose 14.3 per cent to A20 cents, and Mantra (MRU) rose by A2.5 cents to A87.5 cents. Coal stocks did less well. Coal of Africa (CZA) slipped A6.5 cents lower to A82 cents, Macarthur Coal (MCC) fell A17 cents to A$3.11, and Centennial (CEY) fell a rather sharp 15 per cent to A$2.83. Swimming against that coal tide, though, was Felix (FLX) which rose A30 cents to A$8.80, and Riversdale (RIV) which posted a small rise of A5 cents to close at A$2.50.

Minews. Thanks Oz.

 

[resourceboom]

MBN starting to inch slowly up again.
Hopefully the funding news will be out soon.
Looks like they are very close to getting the mine running as per qrtly.

 

[adds]

MBN making big moves over the past 2 days. Anyone on this one?

News out today:

"KALGOORLIE, AUSTRALIA. Mirabela Nickel Limited (TSX: MNB, ASX: MBN) is pleased to announce a major milestone with the commencement of owner‐operator mining today at its Santa Rita open‐cut nickel sulphide mine in Brazil.

Mirabela is the first Australian company to mine nickel in Brazil. The mine will start with a production capacity of 4.6mtpa moving to a capacity of 6.4mtpa in Q2 2009 and has a life of 19 years based on proven and probable reserves."

See the announcement for full details.

 

[Ashsaege]

MBN making big moves over the past 2 days. Anyone on this one?

I got on this one early last week and i am enjoying it!

Today's move was excellent and strong.

I've chosen this stock for the ASF stock competition this month, but i doubt that it will get me into the winners circle!

 

[SilverRanger]

The nickel stocks in general had a good run lately, in fact MBN sort of lagged the other two (MRE and MCR). Time for MBN shareholders to be happy
One disappointment though, no SPP to retail shareholders....

 

[It's Snake Pliskin]

Interesting action in the last two trading days. Humungous volume on Friday. What is to be made of it I wonder?

 

[skyQuake]

Interesting action in the last two trading days. Humungous volume on Friday. What is to be made of it I wonder?

S&P ASX 200 Rebalancing, added to the index on fri so a lot of index funds were buying. Also seems a few bigs guys were dumping to the funds on the close too.

 

[It's Snake Pliskin]

S&P ASX 200 Rebalancing, added to the index on fri so a lot of index funds were buying. Also seems a few bigs guys were dumping to the funds on the close too.

Ok. It explains a lot. Interesting to see what eventuates from here. Will the funds drive it or has the real driving force exited? (thinking aloud)

 

[skyQuake]

Ok. It explains a lot. Interesting to see what eventuates from here. Will the funds drive it or has the real driving force exited? (thinking aloud)

I suppose most of the volume has been done. In the past it was quite a good play but as more people jumped on, the edge disappeared to an extent. Its reacts fairly different now compared to say the tech boom days.

 

[Zird]

Some recent info from Ross Luthean at Mineweb. One would hope that it is going to be an interesting 12 months ahead. Anybody any thoughts on MBN. Is something very interesting about to unfold or am I off with the fairies?


"With the commissioning start Mirabela Nickel (TSX: MNB, ASX: MBN) said the primary crusher was operated for several hours to crush 1,000 tonnes of ore in preparation for the SAG mill scheduled to start up shortly.

Managing director Nick Poll said the operating team was now running the plant on a continuous 24 hour basis since mid September on wet load so as to check systems and ensure a smooth handover from the construction team to the operations team.

Maintenance facilities for the mining fleet are expected to be fully operational by end of October.

Ramp-up to the full operating capacity of 6.4 Mtpa was anticipated to take about one year with installation of a second ball mill planned for the first half of next year. Foundations and infrastructure for this have already been built.

Poll said that at full production, Santa Rita is expected to produce 26,000 tonnes per annum of nickel in concentrate.

Santa Rita is in Bahia State and was claimed to be the largest disseminated nickel sulphide deposit in South America and the largest Greenfield discovery in the world over the past decade.

 

[Voto]

Hi,

I heard they started to run the SAG mill today... Very slowly... They had problems on the primary crusher. Image running for several hours "to crush 1,000 tonnes of ore in preparation for the SAG mill"... The primary crusher is to up to 3,000 t/h...

I'd like to know if MBN will go deeper before recovery the ramp up... Please give me your thoughts...

Bye...