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Business Description: Mirabela Nickel Limited (MBN) is an international mineral resource company engaged in the exploration, mining, production and sale of nickel concentrate. MBN;s principal asset is the 100% owned Santa Rita nickel sulphide operation in Brazil. The ordinary shares of Mirabela are also listed on the Toronto Stock Exchange.
Strategy Analysis: Construction of the Santa Rita plant is now complete with production commencing in late 2009. Throughput capacity has since been increased to 7.2Mtpa with further expansion to 9.0Mtpa likely. Drilling is ongoing and resource extension is targeted through extension of the current open-pit mine and from a potential underground resource.
Mirabela Nickel reported a net loss of US$452.88m for the year ended 31 December 2012. Revenues from ordinary activities were US$273.42m, up 11.9% from last year. Diluted EPS was (0.62) US cents compared to (0.10) US cents last year. The net operating cash inflow was US$4.72m compared to an outflow of $18.57m in the pcp. No dividend was declared.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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