Mirabela Nickel Limited (MBN)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!


General Information
Company Name: Mirabela Nickel Limited
Stock Code: MBN
Website: www.mirabela.com.au
GICS Sub-Industry: Precious Metals & Minerals
Market Cap ($M): 58
Equiv. Shares (M): 930

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.062 $ 0.034 $ 0.071 $ 0.031 $ 0.033 110,732,591 $ 0.029  87.879 %

Company Overview

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.

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.


Financial Summary
Year to Dec NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2013  A -551.9 -63.0 -- 0.0 0.0 0.0 --
2012  A -436.1 -60.0 -- 0.0 0.0 0.0 --
2011  A -50.0 -9.7 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F 2011 A 2012 F 2013 F
Mirabela Nickel (MBN) $31 M -- -- -- -- -- -- 0.00 -- --
Metals X (MLX) $356 M 1.3200 0.3276 0.0097 9.2672 6.9805 6.9132 0.00 2.47 2.98
Orocobre (ORE) $362 M -- -- 5.0412 -- 161.1765 26.6796 0.00 0.00 0.00
Sirius Resources (SIR) $1,009 M -- -- -- -- -- -- 0.00 0.00 0.00

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
MBN -- -- -0.13 -- 0.25
Market 0.91 15.3 1.22 1.74 1.54
Sector 0.70 11.6 0.81 0.99 2.94

Directors
Name Position Start Date
Ms Maryse Belanger Chief Executive Officer,Managing Director 27 June 2014
Mr Richard Willcock Company Secretary 12 June 2012
Mr Mark Milazzo Non-Executive Director 25 June 2014
Mr Ross Edward Griffiths Non-Executive Director 25 June 2014
Mr Richard Newsted Non-Executive Director 25 June 2014
Mr Alastair McKeever Non-Executive Director 06 August 2014

Management
Name Position
Anthony Kocken Chief Operating Officer

Substantial Shareholders
Holding Name
47,472,345 (5.40%) Lancaster Park S.A.
160,506,667 (18.30%) Resource Capital Fund V L.P.

Calendar of Events
Date Event
23 October 2015 Report (Quarterly)
25 August 2015 Report (Interim)
30 July 2015 Report (Quarterly)
25 May 2015 Report (Annual)
30 January 2015 Report (Quarterly)
16 December 2014 Report (Quarterly)
31 October 2014 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Shares via SMSFs

An educational booklet that outlines how to get the most from your share investments for retirement thorugh your self managed super fund.

More details...

News

Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.

More...


Sponsored Links