Mirabela Nickel Ltd Ord MRBAF

RE: RE: Expect $3 soon

[brendelly]

Painfully sweet to see this tackle over $2.00 again. Like you said, Nickel broke the 8.75 resistance, inventories started to turn off the highs and this one kept on its downward trend. Overall updates have been positive with slight delay and recoveries that were coming from an initial stage of commissioning, there has been no fundemental issues pushing this into sell mode.

However, there is quite abit of paper coming off the last few months, we have seen our fair share of dilution keeping their balance sheet healthy. An operational update with better recoveries and production numbers would allow some forward EPS calculations and put the share price in the range it belongs.

Hard to find reasons to abandon this one yet, very early in the production stage of its development.