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Additional Information

Market:	ASX TSX
Sector:	General Mining
EPIC:	MBN
Latest Price:	0.99 (2.07% )
52-week High:	2.39
52-week Low:	0.91
Market Cap:	484.40M

1 year chart

1 day chart

Mirabela Nickel

Mirabela Nickel Ltd (ASX:MBN, TSX:MNB) is an emerging nickel producer with a portfolio of prospective nickel and other base metal targets in Brazil.

Mirabela's lead project under development is Santa Rita - a disseminated nickel sulphide deposit in the state of Bahia. Production of nickel is targeted to commence in 2009/10. This is the largest nickel sulphide resource in South America and the largest greenfield nickel sulphide discovery in the world in the last 10 years.

Mirabela in trading halt, pending major equity raising announcement

Friday, March 13, 2009

Mirabela Nickel (ASX:MBN) will be placed in pre-open at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in pre-open until the earlier of the commencement of normal trading on Tuesday, 17 March 2009 or when the announcement is released to the market.

Mirabela is seeking the trading halt regarding a proposed placement of shares to complement the senior debt facility arranged last week. Canadian underwriters are believed to be attempting to sell up to US$95m in equity this week and over the weekend. The company was understood to be confident of north American investors taking up equity, given the ability of the Santa Rita nickel project to generate positive returns, even at current low prices.

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