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Mirabela Nickel shares on a tear

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Mirabela Nickel (ASX: MBN) is trading 55% higher at $0.17 in intra-day trade today, and by 14:30pm EST over 13 million shares have already changed hands.

Mirabela has not made a major announcement to the ASX since the company’s quarterly on the 23rd April 2013.

Recent highlights for Mirabela include the company successfully delivering the 100% owned Santa Rita project with mining operations and processing plant - to run at full capacity.

The project is a simple, proven open pit mine and conventional sulphide processing plant with 21 year Reserve life and significant Resources.

A plus for the operation is that a reduction in unit cash costs achieved ahead of expectations, with off-take agreements secured for 100% of the concentrate production until end of 2014.


Analysis

Mirabela held balances of cash on hand and on deposit of US$141 million at the end of March 2013.

In the March quarter the company produced 4,151 tonnes and had sales of 3,907 tonnes of nickel in concentrate.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Mirabela Nickel

Price: - -

ASX:MBN
Market: ASX
Market Cap: -
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