MCR - Mincor Resources - Nickel Producer

[Huang Chung]

Tricha, I think you'll win the prize for the longest post on ST, if nothing else.

I've bought back into WSA, probably a bit too soon, but them's the breaks. Waiting for a reversal in the LME Ni stockpile before I possibly dip my toes in the water again.

[tricha]

Tricha, I think you'll win the prize for the longest post on ST, if nothing else.

I've bought back into WSA, probably a bit too soon, but them's the breaks. Waiting for a reversal in the LME Ni stockpile before I possibly dip my toes in the water again.

Yeah and MCR made me the most as well, 1000 %.

But that's distant and this is now, yes WSA, if there is a recovery, WSA is the one Huang. they have an outstanding prolific resource of high grade nickel.

And yes we need to see a change in the LME stock pile. They reckon from mine closures, its 3 months before the last production hits the LME.

And like u, I am watching.

[macduffy]

Open Briefing with MCR's MD, David Moore available on the company's website.
Nothing really new, but makes the point that MCR is cash positive at current Ni prices, has $79m in the bank and nicely poised to increase output when conditions improve.

Disc: Holding a few at a bit above current price.

[macduffy]

Mincor quarterly report:

Operating surplus for quarter $15.5m

Cash up from $55.8m at 31 December to $60.6m

Working Capital increased from $71.7m to $78.5m, after paying a $4m dividend during the period.

Good solid result from reduced output of highest grade Ni for 5 years at lowest quarterly cash cost for 3 years.

[tricha]

Mincor quarterly report:

Operating surplus for quarter $15.5m

Cash up from $55.8m at 31 December to $60.6m

Working Capital increased from $71.7m to $78.5m, after paying a $4m dividend during the period.

Good solid result from reduced output of highest grade Ni for 5 years at lowest quarterly cash cost for 3 years.

Excellent result from Mr Moore, the slide in cash is reversed and if demand picks up as suggestd later this year, game back on for Mincor.


Global nickel output to fall 9,3% this year - study group
(miningweekly.com)
Updated: 2009-04-29 10:47
Counter: 69

World production of refined primary nickel is expected to decline 9,3%, to 1,26-million tons in 2009, the International Nickel Study Group (INSG) predicts.

Last year, nickel production slid 2,1%, to 1,39-million tons, compared with 1,42-million tons in 2007.

The 2009 figure does not include any adjustment figure for possible production disruptions, the study group said.

Nickel consumption fell 1,5% last year, to 1,29-million tons, and is expected to decline to 1,18-million tons in 2009.

This would result in a market surplus of around 80 000 t.

In October, the study group said it expected a refined nickel surplus of some 110 000 t, but the difference between supply and demand has been narrowed after nickel miners responded to weak prices and demand by curtailing production at mines around the world.

World primary nickel usage in 2008 started strongly, but as the global economic crisis unfolded, including tightening of credit facilities resulting in lower nickel prices, demand and production of stainless steel declined from the middle of the year, the study group said.

Nickel traded above $22/lb in 2007 but has since fallen sharply, to around $5/lb, after slowing global economic activity dampened demand for the metal, which is used to make stainless steel.

"It remains unlikely that any substantial improvement will take place this year. No recovery in primary nickel demand and stainless steel production is anticipated until at least the second half of 2009," the INSG forecast.

The current global economic crisis has created "a large degree of uncertainty" and its impacts on both the supply and demand for nickel are not fully known, the group said.

"The study group cautions that future market developments could significantly alter the forward-looking market balance."

[STRAT]

This is an old fav eh Tricha?

[tricha]

This is an old fav eh Tricha?

It does not get any better and I am still trying to find another

[STRAT]

It does not get any better and I am still trying to find another

Hi Tricha,
MCR along with AGM were my first two significant successes. I try and look at them dispassionately but its hard to do lol

[macduffy]

Hi Tricha,
MCR along with AGM were my first two significant successes. I try and look at them dispassionately but its hard to do lol

May be worth another hard look.

Up 12c (12.1%) today!
MCR is cash flow positive, profitable and paid a small div recently despite depressed nickel prices.

[stevo1]

May be worth another hard look.

Up 12c (12.1%) today!
MCR is cash flow positive, profitable and paid a small div recently despite depressed nickel prices.

I may have watched for too long without acting mac, but those LME stockpiles heading towards 120,000 tons with the nickel price rising and demand steadily falling dosent make sense to me.
Factory orders falling.
However MCR sp is rising so good onya.
I am still watching,waiting,possibly may(have )missed the boat.