Mirabela Nickel Limited (ASX:MBN) has sought to reassure investors after its share price shed almost a third of its value yesterday.
Responding to an ASX price query after the market closed the Brazil-focused nickel miner affirmed its guidance and said it had no explanation for the dramatic share price decline.
Mirabela has however noted market speculation surrounding its potential funding requirements given the current nickel price and says it is considering its capital raising alternatives.
Global nickel prices have pulled back about 7 per cent to $US17,355 per tonne since the beginning of the year.
Shares in Mirabela Nickel shed 30.23 per cent yesterday to close at $0.30.
Mirabela Nickel extended its full year net loss to $49.98 million in the 2011 financial year.
