Mirabela Nickel Ltd Ord MRBAF

RE: MNB Financing

[bull_man]

yes, there is dilution, however you have to look at it from a balance sheet perspective; the debt is being reduced by close to $40M; another $40M is going to ramp-up, more than doubling output, and in turn, cash-flow; and the rest remains on the balance sheet for now, if required for working capital, or growth (plus true-up of underground, which could double reserve).....should we become cash-flow positive soon, which is the plan, and should the nickel price remain strong, we should see all of this translate into a substantially higher share price in 2011.