MBT - Mission Biofuels

[BIG BWACULL]

Currently $1.35
One Mission, One Fuel, Biofuel
http://www.missionbiofuels.com/home.php

Their strategy towards Feedstock is growing their own "jatropha"

MISSION FEEDSTOCK STRATEGY UPDATE As previously announced Mission Biofuels Limited’s (“Mission” or “the Company”) strategy is to grow its feedstock business in tandem with its refining business. This strategy ensures Mission’s long term operating profitability, by providing a natural hedge against the commodity markets for feedstock, in particular, Crude Palm Oil (“CPO”). Mission is pleased to confirm: Confidence in achieving 100,000 acres of planted Jatropha curcas by the end of calendar 2007, resulting in approximately 100,000 tpa of Mission controlled feedstock at full maturity of the plantation 30 – 50% of total feedstock requirements for FY2008 will be met by Jatropha curcas and other such inedible oils Jatropha curcas as a feedstock is substantially cheaper than CPO Even at current CPO prices Mission will deliver an operating profit better than its peers. Mission has strong inherent cost advantages compared to its peers: use of CPO instead of refined palm oils leading to a A$ 75/tonnne advantage; sale of purified glycerin instead of crude glycerin providing a A$ 60/tonnne advantage per tonne of biodiesel, low operating costs at Kuantan, minimal logistics costs in sourcing CPO as well as Methanol. Confidence that commissioning of the 100,000 tpa biodiesel facility will be completed by the end of July 2007 Confidence that production of the 100,000 tpa biodiesel facility will commence on 1st August 2007

Mission Biofuels Limited
Expansion Biodiesel Plant to Use Axens Technology

Benefits of the Axens Technology
The Axens Esterfip-H technology is a 2nd generation
technology which has the flexibility to adapt to technology
improvements in the future. While MBT was satisfied with
Crown’s performance in the first 100,000 tonne p.a. facility,
it was the company’s view that they needed to choose a
technology that would allow the company to stay at the
forefront of any technological development in the future.
The yield guaranteed by Axens is 100.3% compared to the
normal 99.5% yield guaranteed by providers of
conventional technology. The Axens process yields high
quality technical grade glycerine that is 97.5% pure without
the need for purification.
Axens has guaranteed that MBT’s 250,000 tonne p.a. plant
will produce biodiesel that fully meets the European and US
specifications using palm oil as feedstock. The 250,000
tonne p.a. plant will now come on-line in August 2008.
BBY recently visited Agri Energy Limited’s (AAE) biodiesel
plant in Beatrice, Nebraska USA where construction is
nearly complete. AAE will be using the Axens technology in
their biodiesel plant. We were impressed with the layout
and design of the plant.

Malaysian 10 year tax break
Cutting feedstock costs by growing their own Jatropha
BioPlant is close to feedstocks
I think %100 of their first production of biofuel is already sold
Close to european Markets
100,000 tonne plant should be producing very soon
250,000 tonne plant will be producing in August 2008
Any other views out there :karaoke:
Any way i better get back under my :hide:
see ya

 

[Mofra]

Malaysian 10 year tax break
Cutting feedstock costs by growing their own Jatropha
BioPlant is close to feedstocks
I think %100 of their first production of biofuel is already sold

Intersting one BB, although I would like to sift through the web to fully understand the pre-sale of 100% of their biofuel production.

Does that equate to 100% hedged (in lieu of a government pre-purchase)? If so, how will they safeguard against production delays?

 

[BIG BWACULL]

Intersting one BB, although I would like to sift through the web to fully understand the pre-sale of 100% of their biofuel production.

Does that equate to 100% hedged (in lieu of a government pre-purchase)? If so, how will they safeguard against production delays?

Sorry mate not sure all i know is they have a 5 year offtake agreement for
250 000 tonnes per annum with Godiver ( an Austrian transit and commodities trader) sales of glycerin to mitco petronas, Supply contract for palm oil and future outlook of growing their own feedstock (Jatropha) and sale of feedstock as well

Mission Biofuels Limited (MBT) today announced plans to enter the Chinese biodiesel market through landmark production and off-take agreements. The company expects the China operations to generate immediate revenue and profits. Key points are: Revenues predicted in July 2007, 3 months ahead of schedule due to China production agreement with East River Energy Resources and Science Technology (Zhejiang) Ltd (ER) , a new biodiesel producer in China Significant off-take agreement proposed with Wuhan PetroChina Lubricant Co., Ltd (Wuhan PetroChina), part of the PetroChina Group of Companies, China’s largest producer and importer of oil Global feedstock and biodiesel ‘soil-to-oil’ production strategy on track Agreements 1. Mission has signed a Memorandum of Understanding (MoU) for a joint venture production contract with East River Energy Resources and Science Technology (Zhejiang) Ltd (“ER”). ER will commission a 50,000 tpa biodiesel manufacturing facility at Tongxiang, about 140 kms from Shanghai, which Mission Biofuels will use to produce biodiesel to be sold into the booming Chinese market. ER and Mission have agreed to replace the MoU with a definitive agreement within 90 days. The key terms of the MoU are as follows: Page 1 of 4
ER will reserve up to 30,000 tonnes of its annual capacity to be used by Mission. Mission will deliver the feedstock on a monthly basis to ER’s facility at Tongxiang. ER will convert the feedstock into Biodiesel at a fixed processing cost for Mission. All payments under the arrangement will be covered with letters of credit/Bank Guarantees. Mission will deliver up to 1,000 tonnes of feedstock to ER during the first 90 days for trial production runs. ER will pay for this feedstock upfront. All biodiesel will be produced to the draft proposed Chinese biodiesel standard.

2. Mission has also signed a letter of intent with Wuhan PetroChina Lubricant Co., Ltd (Wuhan PetroChina), to be replaced by a definitive agreement within 90 days. Wuhan PetroChina, which is part of the PetroChina group of companies, markets refined oil products to gas stations, wholesalers and distributors. PetroChina is China’s national oil company and is the largest producer and importer of oil in China with more than 12,000 filling stations throughout China. The key terms of the letter of intent are as follows: Wuhan PetroChina grants a put option to Mission to supply up to 2,000 tonnes per month of biodiesel from Mission on a take or pay basis at a price based on the published PetroChina daily wholesale mineral diesel price. Wuhan PetroChina will collect biodiesel from ER’s facility. Payment will be by cash before collection.

Oh Pioneer tax incentives is only 5 years not 10
Check their 3rd quarterly and 4th Quarterly market update (actually all their market updates) it keeps investors informed of what they are doing how things are going and where the plan to go for the future Cheers

 

[BIG BWACULL]

PROGRESS UPDATE ON COMMISSIONING OF FIRST 100,000 TPA PLANT Mission Biofuels Limited
Construction of plant is complete and now in commisioning Phase if all things go to plan this should do quite well as revenue will be coming into the company by end of september (Put this on your watch lists)

is pleased to announce that construction of its 100,000 tpa plant has been completed and that commissioning is currently underway. We expect commissioning of the plant to be completed in mid-September and the first shipment of biodiesel is expected by the end of September. Unexpected delays in routine final inspections by Balance of Plant equipment suppliers and Fire, Safety & Health authorities have amended the previous guidance outlined in Mission’s Quarterly update dated 18 July 2007, which anticipated a slightly earlier completion schedule. Notwithstanding these delays, commissioning of the plant by the end of September will represent achievement of our original prospectus timetable. All Balance of Plant works and supplies are now on line and inspection dates with Fire and Safety & Health authorities have been scheduled. Mission Biofuels technology suppliers, Crown Iron Works, have advised that they are happy with the progress of commissioning thus far and do not anticipate any complications for the remainder of the commissioning phase. Crown has seven identical capacity plants in operation, including three that have been successfully commissioned within the last six months.

 

[BIG BWACULL]

ANNOUCEMENT
MISSION SIGNS LONG TERM EXCLUSIVE FEEDSTOCK DEAL WITH A GOVERNMENT CONTROLLED ENTITY IN INDIA
Securing feedstock (Jatropha) Which steers away from Fluctuating Palmolein prices This is a good thing as There is no competition with food prices as Jatropha is a usless arid plant(Except oil forvbiofuel that grows practically anywhere. As mentioned in the Renewable energy Thread Sir richard Branson is looking to fly his planes on a %60 biofuel blend, Trials will commence on some of his new aircraft in 2008, Jatropha circus will be used as a feedstock Any way heres the announcement

• Provides exclusive long term access to existing planted Jatropha Curcas
• Access to additional planting over next 3 years
• Win-Win partnership with government and farmers
• Potential to replicate model in other communities
Mission Biofuels Limited
(ASX : MBT) is pleased to announce that its Indian subsidiary, Mission Biofuels (India) Pvt Ltd (“MBIPL”), has signed an agreement with an Indian district controlled entity granting it exclusive, long-term access to Jatropha Curcas seeds from already planted lands as well as access to additional land in the district that is to be planted with Jatropha Curcas over the next three years. The district authority has formed a producer company which is owned by the farmers and Jatropha growers in the district which will be managed by the district authority. The district authority has, from funding received from the state and central governments under various programs including the rural employment guarantee programs, planted over 25,000 acres of Jatropha Curcas during the last three years. The district authority will continue to plant more Jatropha Curcas under these programs, with an estimated 12,500 acres in the current planting season. The district has now transferred all planted and to be planted Jatropha Curcas to this new producer company. Under the agreement, the first-of-its-kind in India, MBIPL has agreed with the producer company to: • provide technical inputs and know-how to the Jatropha Curcas farmers; • establish nurseries; and
Page 1 of 2
• provide a primary processing center in the district to augment the efforts of the producer company. This will enable MBIPL to gain exclusive access to all Jatropha Curcas seeds harvested in the district and will favorably impact the price MBIPL will pay for the Jatropha Curcas seeds purchased from the producer company. Mr. Ashish Swarup, CEO of MBIPL, said “This win-win partnership provides an excellent example of how a forward thinking government authority can help to provide: sustainable benefits to people living in poverty; long term value accrual to the farmers as owners of the producer company; achievement of economies of scale; and benefits from the research and technical and commercial inputs from an integrated biofuels player. More districts should follow this example”. MBIPL has been in active discussions with some other districts for similar arrangements and is confident that this first success with a win-win agreement will help it finalize arrangements with some more districts in the region providing it immediate and long term access to large scale Jatropha Curcas seeds. With the signing of this agreement, MBIPL is pleased to advise that it is well on track to achieve its 100,000 acres of planted Jatropha Curcas target for 2007. MBIPL will continue with its efforts to increase the acreage further.

 

[BIG BWACULL]

Almost there probably a couple o weeks, Everything running fairly smoothly, Good quality biodiesel Just waiting for the ramp up of production.
Who,s gonna break today Currently $1.45c (this is a short term resistance point) Seller at $1.485, Buyer at $1.47 today, slowly creeping up from $1.45, Wait and see i guess :dunno: Very tightly held stock (I aint letting mine go) Low volumes trading but Big fluctuations in price, Last three days have been on the up, Today will be the test i guess.

PROGRESS UPDATE ON COMMISSIONING OF FIRST 100,000 TPA PLANT

Mission Biofuels Limited (ASX : MBT) is pleased to announce that the commissioning of its first 100,000 tpa biodiesel plant is progressing satisfactorily although slightly behind schedule. Having addressed the initial procedural delays in securing permits necessary for commencing final commissioning, Mission Biofuels is pleased to announce that the plant has received the requisite Safety, Health and Fire approvals after physical inspections carried out by the relevant authorities during the 3rd week of September, pursuant to which, all raw materials such as Methanol, Sodium Methylate and Palm Oil were delivered to the site during the 3rd & 4th weeks of September. All utilities such as the Steam boiler, Cooling towers and Chiller have been successfully commissioned and are operating to provide the required utilities to the plant. The final stage of commissioning of the biodiesel plant involves operating the facility using actual feedstock and chemicals to ensure all the various components and equipment of the facility work properly as well as to fine tune the inputs/dosage of feedstock and chemicals to achieve optimum reaction and production. Upon satisfactory achievement of Spec biodiesel in production quantities, steady state production will commence and the plant is then deemed commissioned. The commissioning of the biodiesel trans-esterification facility commenced on 27 September 2007 and is now in the final stages of commissioning. Test quantities of biodiesel have been produced through continuous operation of the plant. The Biodiesel produced by the plant has been tested at our in-house laboratory and the results reveal that the sample is of a high standard with major parameters that conform to the key specifications of the European EN14214 Biodiesel standard.
There have been no major problems encountered except for routine day to day commissioning issues, such as leaking steam traces, busted seals and several mechanical failures which are being rectified as they occur. The Biodiesel produced is also clear and devoid of impurities and particulates which have been problems in other commissionings recently. We expect to achieve steady state production within the next two weeks. Commissioning of the Pre-treatment and Glycerine purification Plant is also being undertaken in parallel and will come on-stream shortly after the biodiesel trans-esterification plant achieves steady state production.

 

[ideaforlife]

Mr. Big Bcwall, do you have any idea how they can secure the supply of palm oil to make a profit when the price is so high. cheers.

 

[BIG BWACULL]

Mr. Big Bcwall, do you have any idea how they can secure the supply of palm oil to make a profit when the price is so high. cheers.

Short term they have a plan to cut costs , But i am looking at the Longer term and even by 2008 they will start to use Jatropha which will reduce costs dramatically Following is a quote from one of their annoucements. Hope this Helps

Mission is pleased to confirm: Confidence in achieving 100,000 acres of planted Jatropha curcas by the end of calendar 2007, resulting in approximately 100,000 tpa of Mission controlled feedstock at full maturity of the plantation
30 – 50% of total feedstock requirements for FY2008 will be met by Jatropha curcas and other such inedible oils Jatropha curcas as a feedstock is substantially cheaper than CPO
Even at current CPO prices Mission will deliver an operating profit better than its peers.
Mission has strong inherent cost advantages compared to its peers: use of CPO instead of refined palm oils leading to a A$ 75/tonnne advantage; sale of purified glycerin instead of crude glycerin providing a A$ 60/tonnne advantage per tonne of biodiesel, low operating costs at Kuantan, minimal logistics costs in sourcing CPO as well as Methanol. Confidence that commissioning of the 100,000 tpa biodiesel facility will be completed by the end of July 2007 Confidence that production of the 100,000 tpa biodiesel facility will commence on 1st August 2007

Something else for info

About Jatropha Curcas

Jatropha Curcas is a drought-resistant perennial plant that grows in various soil types including in marginal/poor soil. It is easy to establish, grows relatively quickly and produces seeds for over 40 years. Its cultivation therefore does not deprive the use of arable land for food production and is therefore viewed as an ideal crop for Biodiesel production. Depending on soil quality and rainfall, oil can be extracted from the Jatropha seeds after only two years. The oil can then be used to produce Biodiesel. Biodiesel made from Jatropha Crude Oil (JCO) has been tested and has been found to meet international biodiesel specifications. Various high level studies confirm the suitability and superiority of biodiesel produced from JCO compared to other oils. Jatropha biodiesel also has superior cold flow and pour point characteristics. India itself is a very large consumer of fossil diesel, which is mainly used for transport purposes. The Indian National Planning Commission which integrates the Ministries of Petroleum, Rural Development, Poverty Alleviation and the Environmental Ministry among others has set an objective to blend petro-diesel with a planned 13 Million tonnes of bio-diesel by 2013, produced mainly from non-edible Jatropha oil. To fulfil this objective approximately 30 million acres (approximately 11 million hectares) of presently unused lands are to be cultivated with Jatropha. In March 2004, about Rs 800 crores (about US$150 million) was released for a National Program to support cultivation of Jatropha on new fields and plantations of 200,000 hectares. The Indian Government in its recent budget on February 28, 2007 announced the exemption of biodiesel from full excise duties. The current excise duty levied on mineral diesel is 32%. The Indian government is scheduled to announce its Biodiesel Policy in the first quarter of 2007 which is expected to further promote and encourage the cultivation of Jatropha and the production and use of Jatropha Biodiesel. Mission Biofuels is well positioned to capitalise on the significant market opportunities that will result as a result of this policy initiative.

And also keep the following in mind

BIODIESEL MARKET

Mission Biofuels initial target market will be Europe.

The key developments driving the demand for biofuels, including Biodiesel, in the European market are summarised below:

* The Kyoto Protocol which has resulted in 162 countries pledging to cut total greenhouse gas emissions by at least 5% from 1990 levels in the commitment period 2008 to 2012.

* EU Directive, 2003/30/CE, for Biofuels consumption targets: This directive called for petroleum transport fuel products to consist of a minimum percentage of Biofuels.

* Based on petroleum-based diesel consumption in the EU in 2005, it is estimated that approximately 14 million tonnes of Biodiesel will be required if the EU target is to be met. European consumption of Biodiesel in 2004 was 1.9 million tonnes and estimated by Frost & Sullivan to be approximately 2.8 million tonnes in 2005.

* Tax On Mineral Diesel. The EU passed a Directive 2003/96/03 allowing Biodiesel to be exempt from tax up to March 2009. The Directive further allowed flexibility on the level of exemption to be accorded to Biodiesel.

* Increase in Diesel Vehicles: In recent years, there has been an increase in the number of diesel-engine cars sold in Europe. In 2004, almost 50 percent of all new vehicles sold in Europe were diesel-powered.

* Support from car manufacturers: There has been a positive reaction from car and engine manufacturers towards blending Biodiesel in quantities up to 5% with petroleum-based diesel.

 

[ideaforlife]

Thanks Big, but as far as I understand, the jatropha will not reach commercial production for qutie some time yet. I somehow feel something spooky with this stock.

 

[BIG BWACULL]

Thanks Big, but as far as I understand, the jatropha will not reach commercial production for qutie some time yet. I somehow feel something spooky with this stock.

Depends on ones perception of time as an investor short term for me is 4 or 5 years as a trader thats an eternity, Jatropha is already being grown (not by MBT as of yet) As for the spooky bit Sorry I am not a clairvoyant so :dunno:,
But watch out for the :alien2: lol :

 

[BIG BWACULL]

Thanks Big, but as far as I understand, the jatropha will not reach commercial production for qutie some time yet. I somehow feel something spooky with this stock.

:aliena:

This from their annual report

As proposed in our IPO prospectus and having successfully
completed a feasibility study, the Group made its first foray
into the upstream feedstock business, through a 51%
acquisition of Agro Diesel India Pvt Limited (now known
as Mission Agro Diesel India Pvt Ltd) by the company’s
subsidiary Mission Biofuels India Pvt Ltd (“MBIPL”). This gave
us immediate access to 22,000 acres of Jatropha Curcas
– one of the inedible oil seeds.

The Group also retained the
expertise of Agro Diesel’s previous owners and staff who
have been instrumental in enhancing our learning in the
business as well as facilitating the quick roll out of additional
plantation acreage within a short period. The Group set a
target of having 100,000 acres of land planted this calendar
year. We are glad to inform you that this target will be
achieved. The Group also has set a target to have Jatropha
contributing to 30% of our feedstock mix in our first year of
production to 30 June 2008.

Within 6 months, the Jatropha acreage has grown from
the initial 22,000 acres to almost 66,000. These plants
are in various stages of maturity and will commence to
produce seeds in the last quarter of 2007, albeit in small
quantities initially.
The Group’s target is to achieve an acreage of 100,000
acres during the 2007 calendar year and 250,000 acres by
2010. To support this objective, the Group has established
several nurseries where Jatropha Curcas saplings are grown
and supplied to our partner farmers.
In addition to this, we have also developed a Jatropha seeds
procurement business in India where we secure seeds from
third party farmers who grow Jatropha Curcus.

While the increase in CPO prices will put a squeeze on
anticipated Biodiesel margins, the company is proposing
to use a 30% Jatropha feedstock mix in its first year of
operations to 30 June 2008 to offset part of the impact of
the CPO price increase. Several other factors have moved
favourably for the company:-
• The selling prices for our by-products, glycerine and PFAD
almost doubling over the same period
• A 7% increase in the Euro/RM exchange rate from the
rate used in our prospectus
• Implementation of several in-house strategic initiatives and
action plans to curtail costs and broaden/increase the
income base of the company

We were also pleased when MBIPL was shortlisted for the
2007 British Renewable Energy Awards. We did not win the
award, but being shortlisted to the final 9 companies from
a total nomination list of 130 companies is, in our view, a
remarkable achievement for such a young organisation. Our
congratulations to the Jatropha team under the leadership of
CEO, Ashish Swarup for putting us on the world map.

 

[BIG BWACULL]

This is the announcement ive been waiting for

BIODIESEL PLANT OPERATING AT NAMEPLATE CAPACITY Mission Biofuels Limited (ASX : MBT) is pleased to announce that the commissioning of its first 100,000 tpa biodiesel plant is progressing extremely well. The biodiesel trans-esterification plant is currently in operation and is producing biodiesel that meets international specifications. The plant has undergone a gradual ramp-up over the last 3 weeks and is currently operating at 100% of its nameplate capacity of 300 tonnes per day (100,000 tonnes per year). Approximately 2,500 tonnes of biodiesel has been produced to-date. Managing Director, Nathan Mahalingam said, “We are elated that the Crown process technology is working as expected, as this has been the bane of many recent biodiesel plant commissionings using other technologies. Furthermore, achieving 100% nameplate capacity quite effortlessly indicates to me that the plant has more „grunt‟ and could perform at higher levels once stabilized. The Biodiesel produced is clear, shiny and devoid of impurities and particulates.” The plant is also producing commercial grade crude glycerine. So far 250 tonnes have been produced. The glycerine purification plant will be started up once adequate quantities of crude glycerine have been produced which we expect will be in a week‟s time. Commissioning of the pre-treatment plant is also in progress. First shipment of 5,000 tonnes Biodiesel has been slated for 15 December 2007 in conjunction with the official opening ceremony of the plant by the Deputy Prime Minister of Malaysia. “We could ship earlier as we would have built up sufficient quantities within the next 10 days or so, however vessel confirmation lead times dictate an early December
shipping date so we thought it appropriate to combine the opening ceremony with the first export shipment.” Nathan added. There have been no major technical problems; only routine day to day mechanical issues which are not uncommon in commissioning of such plants.

They are starting to make money

 

[BIG BWACULL]

Now increasing the security of their longterm goals

MISSION INCREASES STAKE IN INDIAN JOINT VENTURE

Mission Biofuels Limited (ASX: MBT) through its 100% owned Mauritian subsidiary Mission Agro Energy Limited (MAEL), has reached agreement with Indian Agribusiness Systems Pvt. Ltd and Mr Sunil Khairnar to acquire all the shares they own (20% of the issued capital) in Mission Biofuels India Pvt Ltd (MBIPL). This agreement will see Mission’s shareholding in MBIPL increase from 70% to 90%. MBIPL is the company that Mission is using to develop its upstream feedstock business that is involved in the production and procurement of Jatropha seeds and oil. This acquisition by MAEL is subject to the approval of the Foreign Investment Promotion Board of India and of the Reserve Bank of India. The acquisition is expected to positively contribute to earnings for the financial period ending June 2008.

 

[BIG BWACULL]

MISSION FURTHER INCREASES ITS STAKE IN INDIAN OPERATIONS

On Monday 12 November 2007 Mission Biofuels Limited (ASX: MBT) announced that it had, subject to the approvals of the Foreign Investment Promotion Board and the Reserve Bank of India, agreed to acquire the 20% interest in Mission Biofuels India Pvt. Ltd (MBIPL) held by Indian Agribusiness Systems Pvt. Ltd (AW). We are pleased to announce that our shareholding in MBIPL will now increase to 97.66% following a Rights Issue of shares undertaken by MBIPL to fund the expansion of its Indian feedstock operations. The existing minority shareholders in MBIPL, Indian Agribusiness Systems Pvt Ltd elected not to participate in the Rights Issue (which closed yesterday 14 November 2007) and Skyzen Capital Advisors Pvt Ltd elected to subscribe to a small portion of its entitlement. Consequently, their shareholdings have accordingly been diluted from 30% to approximately 2.35%. Upon completion of the acquisition of the AW stake, Mission’s stake in MBIPL will further increase to 99.2%. The company believes this is an excellent outcome and will impact Mission’s earnings for the financial period 2008 positively.

Practically Setting up their own feedstock prices for next year

 

[stretchie]

This thread has been quiet for a while so I thought I'd chip in a little. Been watching this stock with interest as they touted that the 'smart money' was invested in them, before the instos packed up and left during the height of the GFC. Since then they've been languishing between 20 and 30c:

After what appeared to be capitulation in June they've been building what's looked like a base to me around 17c and then after ranging between 24c and 30c for a couple of months finally look set to bounce higher after a break on good volume in mid November. I picked some up on the bounce off confirmation at 32c and with a 'significant corporate and commercial transaction' pending completion and a pre-open indicative price of 39c from the last traded 35.5c - are these guys finally getting a foothold with their jatropha plans or are they in death throes? Thoughts?

 

[stretchie]

Today these guys traded as high as 52c before settling back to 47c. I'm surprised noone's picked up on these yet in the potential breakouts thread?

 

[stretchie]

Got out of these this week at 48c while they consolidate - which I think may be for a month or two before potentially moving higher. Looks the goods for longer term if the oil price is heading north again. I may revisit this one if it decides to test the breakthrough at 35c.

 

[Anmar]

28th Dec 2012

MBT closed at $0.120, a rise of 140% over yesterdays trade, there are no announcements or news items as to the rise in value so we must just await next weeks trade to see if the stocks continues to gain strength!

 

[sptrawler]

Just read an article about this mob, if it is them it sounds as though they have done a two and half somersault with one and a half twists and become a manganese sulphate producer, for lithium batteries.
It sounds as though they may take on the name Pilbara Metals Group.
Someone can correct me if I'm wrong.

https://thewest.com.au/business/lit...y-makes-battery-chemicals-play-ng-b881259718z

From the article:
Shares in Mission have been suspended for years after a failed foray into biodiesel using palm oil as a feedstock.

The company holds a 20 per cent stake in a stalled palm oil refinery project in Malaysia but has had to write down the value of the asset to zero.

The use of palm oil as a biofuel is considered worse for the environment than standard fossil fuels because it has resulted in deforestation across big areas of South-East Asia.

 

[Smurf1976]

Just read an article about this mob, if it is them it sounds as though they have done a two and half somersault with one and a half twists and become a manganese sulphate producer, for lithium batteries.

I'm always cautious when a company radically changes its business.

Both are sort of related in the use of the end product but the business of mining manganese sulphate versus growing palm oil is radically different.