Mirabela Nickel says it is well positioned to weather the current challenging nickel market and take full advantage of a strengthening nickel price, after completing a debt-for-equity restructure that helped it exit administration and swing to first-half profit.
In the six months to June, Mirabela posted a $US373. 88 million profit, compared with a $US68. 91m loss in the previous corresponding period.
Investors cheered the news, sending Mirabela shares 15 per cent higher to 11. 5c at 1. 43pm (AEST), against a benchmark index fall of 0. 11 per cent.
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.
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