Mirabela Nickel Ltd Ord MRBAF

Reasons for price drop?

[Super-Tessu]

Hi all,

 

According to my calculations this stock looks rediculously cheap. It is cheap even though I calculate in a placement that would dilute the ownership by half...

 

I understand that Mirabelas opex/ lb Ni is relatively high and that they have had some trouble achieving their opex-targets. I also understand their short term capex requirements, and that their somewhat challenging debt situation might lead them to requiring a placement...I also understand that the price of nickel is at a relatively low level...I also understand that other Ni-stocks (e.g. Talvivaara) have come down...

 

But still, I don't understand the valuation...What are the other main factors that I should be affraid of regarding this stock?