MCR - Time for the bottom drawer!

[Dazza]

feels good to have MCR back over $4!

[Viking]

Looks like MCR is now back in the play~

The annoucement today has stretching MCR prospect into Copper~ :) interesting time ahead~

[Dazza]

copper wow and wow :D

ill have to read over the announcement later on to see

[tricha]

As you can see, the tide is turning, ( I can not change the title) but I am back in after all this time.

There are a few reasons.

1 - today someone was selling discounted shares.

2 - The price of nickel, even with a strong OZ$ is now increasing.

3 - Mincor is close to a yearly low.

4 - They have restructured their mining operation.

5 - Production costs are reducing.

6 - Nickel LME stocks are low and some nickel miners are closing shop.

7 - Mincor has been finding high grade, high width nickel in http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=575128

8 - They have 75 million cash and no debt.

9 - They have an interesting gold play in Papua New Guina

10 - Mr David Moore.


http://www.kitconet.com/charts/metals/base/spot-nickel-1y.gif (http://www.kitcometals.com/charts/nickel_historical_large.html#1year)

[FarmerGeorge]

Hi tricha - saw this thread brought back to the front page and suspected it was you! I've been a buyer (again!) since MCR started buying themselves but in hindsight was far too early. Can you clarify what you meant by 1 below? Selling discounted shares?

[tricha]

Hi tricha - saw this thread brought back to the front page and suspected it was you! I've been a buyer (again!) since MCR started buying themselves but in hindsight was far too early. Can you clarify what you meant by 1 below? Selling discounted shares?

IGO, PAN and WSA were going up, whereas an automated sell trade was happening with Mincor, very weird pattern and I was hoping they would dump them and I might get some Mincor for 70 cents. ( a bit like the old days when AMP would dump them and the price would drop 10%, maybe they are more sophisticated now) I ended up paying 71.5 cents for 40k of them, which i rate as a discount to fair value on the day, considering all the information available.

The caution here is - Mincor is the Nickel price, where its heading, we can only guess. I'm guessing up, but if it reverses I'm out.

[tricha]

Hi tricha - saw this thread brought back to the front page and suspected it was you! I've been a buyer (again!) since MCR started buying themselves but in hindsight was far too early. Can you clarify what you meant by 1 below? Selling discounted shares?

The Moore I have been reading Farmer George, the Moore I have been buying. Patience is needed.

Key points.

1 - Directors have been buying on market.

2 - No debt

3 - Heaps of cash

4 - Restructured mining operation, owner mining.

5 - Cash costs plummenting.

6 - A gold \ copper play in Papua New Guina. ( Mr Moore has done this type of operation sucessfull before)

7 - Some one is dumping cheap shares onto the market.

8 - Last and the best, they have found high grade, high width ore bodies, which they are mining\due to mine.

I now hold 80,000 shares. Like I said, the more u read the better the story gets.


Now this is food for thought, if they go deeper, will they emulate WSA
, without the debt ?

[macduffy]

I keep watching these for signs of a price recovery but SP still hovers around 5 year lows.

Not surprising really as the PoN has been dropping since late January but when this turns up I'll be looking to buy a few. Patience required meantime.

:cool:

[tricha]

I keep watching these for signs of a price recovery but SP still hovers around 5 year lows.

Not surprising really as the PoN has been dropping since late January but when this turns up I'll be looking to buy a few. Patience required meantime.

:cool:

The only thing that will derail them Macduffy is the world going back to recession and it could.
They have the cash to ride out a few storms, it will be interesting to see if they further cut their cash costs.
I'm picking they will and in the meantime, expect to see futher mining closures, as the likes of Minara (Glencore) and Raeventhorpe make losses.

[sharer]

Maybe MCR could be more popular by sharing out some of that "surplus" cash :cool:

[macduffy]

I doubt whether they'll be tempted to buy "popularity" in that way. The market values MCR on current and prospective prices for nickel. Any distribution would be gratefully accepted but would do little for the SP, IMO.
I reckon they're doing the right thing by paying out a modest dividend, conserving cash and letting the market do its thing.

:cool:

[sharer]

...
I reckon they're doing the right thing by paying out a modest dividend, conserving cash and letting the market do its thing.:cool:

You're right (again). I was just daydreaming (again). :sleep:

[tricha]

I doubt whether they'll be tempted to buy "popularity" in that way. The market values MCR on current and prospective prices for nickel. Any distribution would be gratefully accepted but would do little for the SP, IMO.
I reckon they're doing the right thing by paying out a modest dividend, conserving cash and letting the market do its thing.

:cool:


http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=573813

The big picture - is they got this for not much, this is part of the future for Mincor.This is huge!

[stevo1]

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=573813

The big picture - is they got this for not much, this is part of the future for Mincor.This is huge!

Provided we dont recess/depress further MCR looks good BUT it seems the only thing holding the sp up in the short term is the constant buybacks(though relatively small) by the co without which the sp would be much lower,despite all.

[tricha]

Provided we dont recess/depress further MCR looks good BUT it seems the only thing holding the sp up in the short term is the constant buybacks(though relatively small) by the co without which the sp would be much lower,despite all.

Buyback is a very smart move, for Mincor Stevo1, it is spending our money wisely, something akin to spending $1 and getting $2 back.
Buying discounted shares, unlike a lot of power crazy other companies, that seem to buy muppets. ( give it away) . I'm quite happy to sit this one out, probably not a traders share.

Anyway here is something to reflect on - http://www.brrmedia.com/event/95448

[tricha]

Confirmation of what we knew already and why Mincor, Mr Moore and Myself were buying discounted shares.
Great result, well done Mincor!

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=585191

[macduffy]

MCR could certainly do with some good news with the PoN around twelve month lows. The JV Carnilya Hill mine has shut down as scheduled although the JV partner has hopes that conditions - and price - may improve at some stage to allow it to re-open.

MCR's production has been good but it I wouldn't be expecting much in the way of profits at next announcement.

[tricha]

MCR could certainly do with some good news with the PoN around twelve month lows. The JV Carnilya Hill mine has shut down as scheduled although the JV partner has hopes that conditions - and price - may improve at some stage to allow it to re-open.

MCR's production has been good but it I wouldn't be expecting much in the way of profits at next announcement.

All we need now is a nickel price improvement and Mincor will fly, excellent operating profit!

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=585954

High grade production still to come.

[tricha]

All we need now is a nickel price improvement and Mincor will fly, excellent operating profit!

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=585954

High grade production still to come.

Why Mincor will fly.

Companies like Mirabela will go bust at this Nickel price. When they shut and it will be soon, there will be another shortage of Nickel.


Investors take heart from Mirabela quarterlyKate Emery, The West AustralianApril 25, 2012, 8:05 t (javascript:print())

http://l.yimg.com/fv/xp/wan/20120412/12/4003254308.jpg (http://l.yimg.com/fv/xp/wan/20120412/12/4003254308.jpg)Investors take heart from Mirabela quarterly







Mirabela Nickel has made no secret of the fact it has been having a tough time at its Santa Rita nickel mine in Brazil and shareholders have been digesting news on escalating cash costs and production woes for months.
That may be one explanation for why Mirabela shares jumped 5 per cent yesterday after a quarterly report that was far from glowing but contained no big surprises and showed Mirabela was making at least some progress on bringing costs down.
Production for the quarter fell 16 per cent to 4245 tonnes thanks to the previously-flagged lower-grade ore being mined during the three month period. Sales fell 19 per cent.
The company has also trimmed its annual production guidance range by 1000t. It is targeting between 19,000t and 21,000t for the year.
Cash costs are still much higher than either Mirabela or the market want to see, despite coming down very slightly from $US7.42 a pound in the December quarter to $US7.37/lb. But the miner is sticking to its target of bringing cash costs close to $US6/lb by the end of the year - something it hopes will be aided by its recent decision to cut about 100 jobs in Brazil.
The company's cash position remains tight.
As of March 31, Mirabela had $US59.7 million cash on hand and on deposit and trade receivables of $US29.3 million. However, it has also drawn down a $US50 million Banco Bradesco working capital facility and a $US5.2 million Atlas Copco Customer Finance facility.
The miner has forecast capital expenditure for calendar 2012 of $US60 million, of which it has so far spent about $US18.5 million.
Mirabela shares finished the day 2.5¢ stronger at 49.5¢.

[macduffy]

Sorry, Tricha, I can't share your enthusiasm for MCR at present. The Cu price is weak - to be polite! - and the MCR price has been going down, then sideways, for the last couple of years. It may be the prettiest pig in the beauty parade of Cu companies but it's not a Buy just yet, IMO.

:(

[tricha]

Sorry, Tricha, I can't share your enthusiasm for MCR at present. The Cu price is weak - to be polite! - and the MCR price has been going down, then sideways, for the last couple of years. It may be the prettiest pig in the beauty parade of Cu companies but it's not a Buy just yet, IMO.

:(


Lets look at the facts again. macduffy

Positives.

1 - Cash costs for their nickel production $4.96, versus nickel price around $8.00 a lb.

2 - 81 million cash and recievables in the bank and no debt.

3 - 2 new high grade ore bodies coming on stream in the next two months.

4 - A lousy $200,000 spent on extending their tenements.

5 - A rich gold\copper play in New Guina

6 - The MD has been buying, on market.

7 - They are buying back cheap shares.

8 - A MD you can trust.

9 - They pay a dividend, probably more than your bank pays.

10 - There are so many nickel producers that will go belly up, if prices stay at these levels, opening up the opportunity
for a quick rebound in the nickel price.

11 - Norislk is hunting and BHP is looking at selling Nickel assets.

Negatives.

1 - With the world treading water, we still face depression. ( Mincor will survive, they have the cash)

P.S Its a bit like Beach, you need to reckonise change.

[macduffy]

My point concerns the timing of any purchase of MCR rather than the merits of the company. They have certainly done well in continuing to pay dividends during lean times for Ni producers, but don't yield as much as my Aussie bank shares, even from their (MCR's) depressed SP.

We should note too that the certification of Reserves hasn't kept up with production. Latest numbers are:

Proved 263ktonnes Probable 809kt Total 1,072kt

As at March2011 Proved 299kt Probable 1,447kt Total 1,746kt

It may be that an upgraded certification is due but the depletion shown in these numbers emphasise the point that miners need to constantly make new discoveries to stay in business.


PS. I don't put a lot of store on brokers' recommendations but FWIW, here's UBS' latest on MCR:

"Get More Commentary, Dicussion & Market Information On -
• MCR - MINCOR RESOURCES NL



--------------------------------------------------------------------------------

Target $0.70 (was $0.65). Mincor's quarterly production report showed the trend of higher output at lower costs has resumed and this sees UBS lift earnings estimates and price target.

Valuation at current levels captures the company's reserve upside potential in the view of UBS and so a Sell rating is retained.

Sector: Materials.

Target price is $0.70.Current Price is $0.70. Difference: $0.00 - (brackets indicate current price is over target). If MCR meets the UBS target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss)."

[tricha]

[QUOTE=macduffy;373094]My point concerns the timing of any purchase of MCR rather than the merits of the company. They have certainly done well in continuing to pay dividends during lean times for Ni producers, but don't yield as much as my Aussie bank shares, even from their (MCR's) depressed SP.

We should note too that the certification of Reserves hasn't kept up with production. Latest numbers are:

Proved 263ktonnes Probable 809kt Total 1,072kt

As at March2011 Proved 299kt Probable 1,447kt Total 1,746kt

It may be that an upgraded certification is due but the depletion shown in these numbers emphasise the point that miners need to constantly make new discoveries to stay in business.


PS. I don't put a lot of store on brokers' recommendations but FWIW, here's UBS' latest on MCR:

"Get More Commentary, Dicussion & Market Information On -
• MCR - MINCOR RESOURCES NL

Reserves do not matter, the nickel is there and the grades are getting bigger.

You only need to read this to figure whats going on.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=573813



Brokers, are going to miss the boat again,


http://www.mincor.com.au/images/mincor-47--aigahripia.pdf

and so are you most likely Macduffy, 20% up in a blink. Make your banks look like chicken ....

I'm happy to hold for the long term. With 42.5 cents a share cash backed.

[macduffy]

From the RBC Capital Markets review - see tricha's latest post.

"The main operational risk is mining, but we
do not believe head grade is high risk because of the district's long history of mining. However, a mine life based on reserves of only
3–4 years is a risk. Finally, a severe downturn in global economies, especially in China, would cause the nickel price to fall and hurt
Mincor's earnings."

Finally, I'm not "missing out" on any MCR SP recovery. I hold a few - at a much higher cost than the current SP! - but I'm not averaging down until some of those risks are shown to be reduced.

[macduffy]

From Macquarie Private Wealth

"Mincor Resources NL (MCR)



Chart: Share price over the year to versus ASX200 (XJO)

We currently rate this nickel miner as neutral with a price target of 76 cents. It closed at 68.5 cents on April 24. Total full-year 2012 production appears achievable, while the transition to owner/operator mining should continue to deliver further cost improvements and increase mining flexibility. However, we believe MCR’s suite of projects are fully priced at current levels."

Apologies, chart didn't copy!

[STRAT]

Here you go Mac.

The 3 year chart is more telling.
Does appear to have bottomed out though.

[macduffy]

Thanks, STRAT.

RSI is also looking a bit more positive. I know tricha doesn't agree but I'll be looking for a turnaround in the PoN to get that SP trending upwards before adding to my small holding.

:cool:

[tricha]

Thanks, STRAT.

RSI is also looking a bit more positive. I know tricha doesn't agree but I'll be looking for a turnaround in the PoN to get that SP trending upwards before adding to my small holding.

:cool:

You will be to late for the turn around, it's started. The company is back to making money.

The other issue u face is
http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=588412

Mincor will run out of cheap shares to buy. They have only bought 7.5 million of the 20 million allocated.

The mining life is a non issue, read the steal. for a lousy $200,000 they extended their ore body and lets face it , theres no need to waste money drilling more, at this stage.

Risk as stated is a world economic collapse, it could happen.

[STRAT]

After destroying 82% of their value the company is buying its shares back. Nice. http://www.aussiestockforums.com/forums/images/smilies/vomit.gif Cant see what the hurry is about Tricha. Its just bouncing along the bottom like a flounder and thats while MCR are buying. MCR has often given very clear buy/sell signals. I wouldnt hurry in just yet. Could be a nice setup for the breakout thread somewhere down the track.

[tricha]

After destroying 82% of their value the company is buying its shares back. Nice. http://www.aussiestockforums.com/forums/images/smilies/vomit.gif Cant see what the hurry is about Tricha. Its just bouncing along the bottom like a flounder and thats while MCR are buying. MCR has often given very clear buy/sell signals. I wouldnt hurry in just yet. Could be a nice setup for the breakout thread somewhere down the track.


Strat I'm down to two companies, MCR and NGF. The rest paid off the mortgage.

I know MCR like the back of my hand, I am happy to hold both for the next year , unless there is adverse change.
Mincor is very low risk. It also could bounce 20% in the short term. It will not go below 68 cents for more than a couple of hours, the buy back will insure this.

Mincor has changed for the better. Strat reckonise change, or be at the railway station watching the ship sail past.

P.S The last time I was at the Fremantle railway station was a few years a go, I'm on my way back. U will not see me post for a few months past this month. We are going to WA, to find Lasseters Reef. Happy hunting folks.

[STRAT]

Strat I'm down to two companies, MCR and NGF. The rest paid off the mortgage.

I know MCR like the back of my hand, I am happy to hold both for the next year , unless there is adverse change.
Mincor is very low risk. It also could bounce 20% in the short term. It will not go below 68 cents for more than a couple of hours, the buy back will insure this.

Mincor has changed for the better. Strat reckonise change, or be at the railway station watching the ship sail past.

P.S The last time I was at the Fremantle railway station was a few years a go, I'm on my way back. U will not see me post for a few months past this month. We are going to WA, to find Lasseters Reef. Happy hunting folks.That would be a sight to behold.

A ship sailing through a railway station :D

Have fun across the ditch. Tricha.

Oh by the way, Im not half bad at jumping on moving trains

[tricha]

That would be a sight to behold.

A ship sailing through a railway station :D

Have fun across the ditch. Tricha.

Oh by the way, Im not half bad at jumping on moving trains

Cheers Strat,it was great to be back across the ditch, unfortunately with NGF being rolled, I've been left with no option, but to plough it into Mincor.

Oh what a ride, with the buyback running out ( I got out at a small loss) only to buy back in under 60 cents, unbelievable.
Mincor was over sold again,

1 - 75 million in the bank.

2 - No debt

3 - Over 4 million spent last quarter buying back cheap shares.

4 - Cash costs reduced.

5 - massive drilling hits of high grade\high width nickel. All within finger tip.

6 - A mining operation valued at 40 million ( time of re-entry) Worth ten times that.

7 - A new company to be floated if the Papua NewGuina drilling comes good, history to repeat, check out TYC.

Hold MCR and still looking for a replacement goldie.!

P.S oh and you need to visit Freemantle Strat ;)

[tricha]

It's a great story, Mincor has changed for the better and now very cheap.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=603034

[STRAT]

After destroying 82% of their value the company is buying its shares back. Nice. http://www.aussiestockforums.com/forums/images/smilies/vomit.gif Cant see what the hurry is about Tricha. Its just bouncing along the bottom like a flounder and thats while MCR are buying. MCR has often given very clear buy/sell signals. I wouldnt hurry in just yet. Could be a nice setup for the breakout thread somewhere down the track.Hi Tricha. Did I say floundering along the bottom? Seems MCR has turned into a mud worm.

New lows. I still wouldnt be in a hurry to enter. Seems this ship is parked at the station but then ships dont have wheels :D

Ive done well with MCR in the past. They have presented nice buy/sell signals for investors and slow motion traders.

[tricha]

Hi Tricha. Did I say floundering along the bottom? Seems MCR has turned into a mud worm.

New lows. I still wouldnt be in a hurry to enter. Seems this ship is parked at the station but then ships dont have wheels :D

Ive done well with MCR in the past. They have presented nice buy/sell signals for investors and slow motion traders.

In recent months, I have been back into Mincor Strat. ( Since i sold my last ones for $4.50 many years ago.)

Just like I bought into SBM recently at the bottom of their down hill slide and PAN ( who I made a mistake, by being lazy and not reading the finanicals properly ( allluded to by Soulman), who I quickly dispatched.

MCR has done a big turn around, a year ago I would not have touched it.

Have you read and understood this, http://www.stocknessmonster.com/news...E=ASX&N=603034 (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=603034) The turn around was well underway, before this came out.
I could give you many pointers, but if you do not understand the fundamentals, theres no point. Remember they have just gone ex dividend, yes another dividend!

Can you tell me where I'm making a mistake, Strat.
I would be very interested to know. I believe Mincor is very low risk, even if they are treading water to a degree.
Any upside in the nickel price and they will fly. Unlike PAN, who are are most likely sinking at the moment, but will also fly if nickel picks up above $9.00 a ilb.

Happy hunting

P.S I topped up today.

[STRAT]

Hi Tricha.
I know very little about fundamentals. Be lucky if I could understand a balance sheet. As to understanding the document in the link. I understand its an advert and a sales pitch.

I wont presume to say you have made a mistake other than buying before the bottom is in. Nobody knows if the price you paid was good or bad yet but if you had waited till there were clear signs the SP was in recovery you may have got em cheaper ( or more of em ) More important the odds of them going up after you bought would be greatly improved.


Looking at world markets overnight Im guessing they will go up today which will give you confidence but it was you posting that we are in for a big fall over the next few months. If you believe that surely it would have made sense to hold off buying MRC for a while?

Tell ya what.
I will let you know when I would buy them and my reasons when and if that happens. I tend to forget statements like the one I just made so if you think I have forgotten or missed the boat give me a shove to remind me.

[tricha]

Strat, we have seen a huge fall in Mincor's price in the last year, they are cash rich, 40 cents a share, no debt, the down side is already factored in.

I paid of the morgage last Nov, so my share market addiction has been halved.

I now hold two shares, SBM to replace my NGF which is being taken over ( stolen) and MCR.

One is based on fear and the other greed. Both bought in a down trend. Both with piles of cash, one a pure gold company, one wanting to be a gold company.

Here is a lazy afternoon, rainy day listening, all is not well at the station.

Full Interview With Billionaire Frank Giustra

http://www.youtube.com/watch?v=9o30gNfPq_k&feature=player_embedded

[STRAT]

Strat, we have seen a huge fall in Mincor's price in the last year, they are cash rich, 40 cents a share, no debt, the down side is already factored in.

I paid of the morgage last Nov, so my share market addiction has been halved.

I now hold two shares, SBM to replace my NGF which is being taken over ( stolen) and MCR.

One is based on fear and the other greed. Both bought in a down trend. Both with piles of cash, one a pure gold company, one wanting to be a gold company.

Here is a lazy afternoon, rainy day listening, all is not well at the station.

Full Interview With Billionaire Frank Giustra

http://www.youtube.com/watch?v=9o30gNfPq_k&feature=player_embedded Hi Tricha. Just listened to the interview. Thanks for that one.
A likeable and as well as one can read body language through the PC a seemingly fairly strait up guy too. I agree with a lot of what he says about the state of the world but timing is everything.

I reckon one can to some degree, sell based on greed and buy based on fear as long as its someone elses emotions and not your own.

I dont put too much credence in cash backing as I have no control over how it will be used and as a stockholder will be one of the last to know how it was spent. Remember PPP?

Theres no way to factor in down side completely. Too many variables.


Tell me more about MCR's gold aspirations. Im genuinely interested and may have another look, not just as an exercise but with a view to re-enter.

[tricha]

Tell me more about MCR's gold aspirations. Im genuinely interested and may have another look, not just as an exercise but with a view to re-enter.

I'll leave you to make up your own mind Strat, u will need to go about 12 mnutes into this broadcast. The other key is David Moore and his past\back ground.

http://www.brrmedia.com/event/95448/david-moore-managing-director

[STRAT]

I'll leave you to make up your own mind Strat, u will need to go about 12 mnutes into this broadcast. The other key is David Moore and his past\back ground.

http://www.brrmedia.com/event/95448/david-moore-managing-directorThanks for that Tricha

[Corporate]

tricka, MCR is an interesting one and from the latest annual report is throwing off a decent amount of cash. My quest is why is their depreciate charge so high? Are they spending lots of capex just to keep mining and continually having to write it off through depreciate do to a low reserve base?

Interested in your thoughts.

Cheers

[h2so4]

tricka, MCR is an interesting one and from the latest annual report is throwing off a decent amount of cash. My quest is why is their depreciate charge so high? Are they spending lots of capex just to keep mining and continually having to write it off through depreciate do to a low reserve base?

Interested in your thoughts.

Cheers

$30m of the drep charge came from the purchase of mine property (land), a tempory state of affairs.

[soulman]

I'll leave you to make up your own mind Strat, u will need to go about 12 mnutes into this broadcast. The other key is David Moore and his past\back ground.

http://www.brrmedia.com/event/95448/david-moore-managing-director

Quite a rise the last few days Tricha, near 30%. One of the best performer in the ASX.

[macduffy]

And a "please explain" from the ASX elicited the usual "I know nothing" response.

Must be tricha's infectious enthusiasm for the stock!

:)

[soulman]

Add another 8% today. Something is up!!

[macduffy]

Could just be the price of nickel. Spot price has firmed about $1,000 pt in the last week.

That, plus a perception that MCR had been oversold?

[Toulouse - Luzern]

Hi McD

http://www.asx.com.au/asxpdf/20120906/pdf/428k09x5z4v0fs.pdf

MCR MD presentation at AMEC Convention Perth 6 Sep 2012.
Includes inter alia and E&OE.
Cash at Bank $75m. No debt. (Note Directbroking website today shows Mcap $148m.)
Initial capital 2001 was $5m. No capital raising since.
$235m profit since 2001, dividends $114m.
7% dividend fully franked.

Others have commented/speculated on recent rising share price with guesses as to interested parties.

Rgds

[macduffy]

Thanks, T-L.

Yes, I'd seen the preso but didn't think it differed much from recent previous ones. A lot of history there which may or may not count for the future, eg those divvys have been long spent. But it does make the point that MCR and its nickel mines are a good operation, well-managed, and conserving cash over a difficult cycle. I'm a bit diffident about their PNG adventures. All still very much in the prospective phase but MCR have a good track record so here's hoping! And yes, they may be attractive to a bigger company, particularly at current prices.

Cheers

[tricha]

Quite a rise the last few days Tricha, near 30%. One of the best performer in the ASX.

I do not understand the big jump Soulman, I was looking out 6 months. when the nickel price got back up.
Yes, something is up, a takeover, why not, it was dirt cheap.

[tricha]

Could just be the price of nickel. Spot price has firmed about $1,000 pt in the last week.

That, plus a perception that MCR had been oversold?

Way oversold macduffy, with the nickel price firming, Mincor will be printing some money, instead of treading water,
(which they could have done for a very long time)

[STRAT]

Well Tricha.
Having had a few charts posted with your comments pastered all over them in the past I thought I do one you might like. :D

It does appear to have finally topped out though. The question is will it consolidate and then push on up some more.

I havent bought any. There were buy signals 2 to 4 days after your timely comment but not confirmed. So from my perspective taking the plunge although looking like a good idea in hindsight would have been akin to catching falling knifes but in reverse.

[tricha]

Well Tricha.
Having had a few charts posted with your comments pastered all over them in the past I thought I do one you might like. :D

It does appear to have finally topped out though. The question is will it consolidate and then push on up some more.

I havent bought any. There were buy signals 2 to 4 days after your timely comment but not confirmed. So from my perspective taking the plunge although looking like a good idea in hindsight would have been akin to catching falling knifes but in reverse.

The best bargains are falling knifes Strat, but only on a fundamental basic and there are a few traps. (My PEM shares were a good example of lazy reading)

Saint Barbara Mines is a classic, catching a falling knife, Saint Barbara check that one out Strat.

There is a warning here Strat, you need to understand the business ( Warren Buffet) and if you do not, never catch that falling knife.

P.S and when you realise you have made a mistake and there will be many, get out at all costs.

[STRAT]

There is a warning here Strat, you need to understand the business ( Warren Buffet) and if you do not, never catch that falling knife.

P.S and when you realise you have made a mistake and there will be many, get out at all costs.Hi Tricha
I dont understand most of the Businesses I buy so I dont try and catch falling knives.

Theres more than one way to skin a cat. eh?

[tricha]

Hi Tricha
I dont understand most of the Businesses I buy so I dont try and catch falling knives.

Theres more than one way to skin a cat. eh?

Yes there is Strat, everyone to their own.

And the move to 90 cents has taken me by surprise Strat, to the point I sold half yesterday.
With this crazy ping\pong market, they are just as likely to go back to 70 cents tomorrow.

[macduffy]

I think that soulman's right - something must be up!

Now more than a 70% rise since the beginning of the month, a lot more than the market suddenly realising that MCR had been heavily oversold. I wonder if there was more said at the Perth conference than the presentation suggests?

:confused:

[STRAT]

It does appear to have finally topped out though. Nope. Its off again after a
2 day pause.

[soulman]

I think that soulman's right - something must be up!

Now more than a 70% rise since the beginning of the month, a lot more than the market suddenly realising that MCR had been heavily oversold. I wonder if there was more said at the Perth conference than the presentation suggests?

:confused:

Beware of the Chinese.....

Yesterday, they want a piece of FML (gold producer) at a premium. They got a big piece of NGF and maybe nickel producers are next on their list. All must have big reserves I supposed.

[macduffy]

"The nickel worm finally turns up."

http://www.eurekareport.com.au/article/2012/9/26/base-metals/nickel-worm-finally-turns

[tricha]

"The nickel worm finally turns up."

http://www.eurekareport.com.au/article/2012/9/26/base-metals/nickel-worm-finally-turns

A good time to bail, me thinks, the nickel price has gone south again.

[tricha]

A good time to bail, me thinks, the nickel price has gone south again.


Yes, a good time to bail, not that there is anything wrong with the company, but around $1. is fair value, with more downside than up.

The key indicator nickel, is looking a tad low again. 7.7413

[macduffy]

And as soon as I take my eye off this one it shoots up 10% (10c) today to $1.10 on the back of more promising drill results!

That's nickel stocks, I guess!

:ohmy:

[tricha]

And as soon as I take my eye off this one it shoots up 10% (10c) today to $1.10 on the back of more promising drill results!

That's nickel stocks, I guess!

:ohmy:

It defies gravity, I see CBA has become a major holder as well as Paradice investments. When one or the other reckonises nickel is not going anywhere, we know what happens when you gravity
relinquishs.

http://www.kitconet.com/charts/metals/base/spot-nickel-6m.gif (http://www.kitcometals.com/charts/nickel_historical_large.html#6months)

[macduffy]

Upbeat quarterly report from MCR, despite depressed PoN.

http://www.mincor.com.au/images/mincor---oulahzooxo.pdf

[tricha]

Upbeat quarterly report from MCR, despite depressed PoN.

http://www.mincor.com.au/images/mincor---oulahzooxo.pdf

They are treading water. Place your bets, nickel goes up , Mincor goes off. Nickel stays the same , nothing changes.
Nickel drops ...................

[macduffy]

They are treading water. Place your bets, nickel goes up , Mincor goes off. Nickel stays the same , nothing changes.
Nickel drops ...................

Exactly.

But they have $70m cash, no debt, so the potential upside is considerable if/when the Ni market turns.

:cool:

[tricha]

Exactly.

But they have $70m cash, no debt, so the potential upside is considerable if/when the Ni market turns.

:cool:

Hmm, they are using their high grade reserves to tread water. If that runs out they sink.

Unfortunately their gold report isn't to good.

I'd say 80 cents would be fair value.

[tricha]

They are treading water. Place your bets, nickel goes up , Mincor goes off. Nickel stays the same , nothing changes.
Nickel drops ...................

We have a shift in the nickel price, will it keep climbing, place your bet folks.




http://www.kitconet.com/charts/metals/base/spot-nickel-30d-Large.gif

[macduffy]

No, the price of nickel didn't keep climbing over 2013 but MCR have posted a pretty satisfactory interim result today, effectively managing to break-even.
Operating cash-flow maintained and even an interim dividend of 2cps.

http://www.asx.com.au/asxpdf/20140212/pdf/42mnvrpyq7213n.pdf

[tricha]

No, the price of nickel didn't keep climbing over 2013 but MCR have posted a pretty satisfactory interim result today, effectively managing to break-even.
Operating cash-flow maintained and even an interim dividend of 2cps.

http://www.asx.com.au/asxpdf/20140212/pdf/42mnvrpyq7213n.pdf

I have just dipped into PAN, calculated gamble, nickel will climb soon as mines keep closing.

[tricha]

Exactly.

But they have $70m cash, no debt, so the potential upside is considerable if/when the Ni market turns.

:cool:

a year and a half later, Mincor will be back to roughly 70 million cash in the bank.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=677757

This report says it all.

the boxs are all ticked,

the only variable is the nickel price, place yor bets ;)

[notooshabby]

a year and a half later, Mincor will be back to roughly 70 million cash in the bank.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=677757

This report says it all.

the boxs are all ticked,

the only variable is the nickel price, place yor bets ;)


Looking positive - (http://www.bloomberg.com/news/2014-07-24/goldman-raises-nickel-price-forecast-as-deficit-looms-amid-ban.html ). Some near term upside indicated in the Nickel price here.

[tricha]

Looking positive - (http://www.bloomberg.com/news/2014-07-24/goldman-raises-nickel-price-forecast-as-deficit-looms-amid-ban.html ). Some near term upside indicated in the Nickel price here.

Back into my favourite nickel company. Now unbelievable cheap.

50% cash backing. Paying 4 cents a year dividends. Very well managed and back to making money.

Two months into another profitable quarter. Exploration upside.

Someone is selling discounted shares.

Risk nickel price, reward nickel price.

[Huang Chung]

I'll have to take another look at MCR Tricha.

Liking nickel, but only playing it through Cassini Resources (CZI) at the moment.

[tricha]

I'll have to take another look at MCR Tricha.

Liking nickel, but only playing it through Cassini Resources (CZI) at the moment.

What is your verdict.

I had a quick look at CZI, not for the faint hearted.

[JBmurc]

Back into my favourite nickel company. Now unbelievable cheap.

50% cash backing. Paying 4 cents a year dividends. Very well managed and back to making money.

Two months into another profitable quarter. Exploration upside.

Someone is selling discounted shares.

Risk nickel price, reward nickel price.

Sounds good made a good few dollars on MCR long time ago ....always been well mgmt

[Huang Chung]

MCR still seems to be very well run (and David Moore is still at the helm I see....), but, other than a booming nickel price, what is going to drive the share price forward in a meaningful way?

[JBmurc]

MCR still seems to be very well run (and David Moore is still at the helm I see....), but, other than a booming nickel price, what is going to drive the share price forward in a meaningful way?

-Good Exploration results through their 10mill exploration project ..

-Ongoing costs control and Ni production grade increases seeing MCR making as much profit margin as they did back in 2011 with Ni round $11

-Posting a larger Net Profit etc


disc - In @ 66c

[JBmurc]

Strong move from the nickel price up over 3% should see MCR move least 5%
Glad I sold RMS to buy MCR the former getting smashed of late

[tricha]

Strong move from the nickel price up over 3% should see MCR move least 5%
Glad I sold RMS to buy MCR the former getting smashed of late

Move Mincor did, With 60 million tucked away in the bank , what's not to like?

[JBmurc]

Mincor Resources has been unable to match the performance of peers despite the solid operational and financial results, and despite the positive resource update, and despite the positive outlook on the nickel price. In fact the share price has dropped to below A$0.70 in the past month on no negative news released by the company.
It appears that Mincor's share price decline is driven by BHP's announcement to exit its nickel business, including operations in the Kambalda region as part of the Nickel West unit. Glencore (OTCPK:GLCNF), Norilsk Nickel and Jinchuan (OTC:JGRRF) have been named as potential suitors in various opinion pieces published in the Australian press, but certain regulatory hurdles still need to be cleared before a potential deal can move forward. A de-merger into a separate entity also appears to be an option for BHP.
The nickel concentrator in the Kambalda region which also treats Mincor Resources' ore will be one of the assets to be sold off or spun out by BHP, and investors appear nervous about the prospect of Mincor Resources loosing its toll-treatment partner.
To the very best of our knowledge these concerns appear unfounded. The agreement between BHP and Mincor Resources is valid until 2019 and a change in ownership of the concentrator would have to honor this agreement. Termination would come at a cost; and there would be little reason to terminate this agreement by a possible new owner of the concentrator since there is ample capacity to treat the ore from Mincor's mines.
In fact this news item echoes an often-heard sentiment that "new supply will need to be sourced for the Nickel West smelter and refinery [to] operate at more optimum levels". Or quoting a well-known UBS analyst: "Any suitor would likely want seven to ten years of concentrate feed for the smelter and refinery, which would mean developing the Venus deposit and pursuing potential mergers and acquisitions." And such M&A activity may well include Mincor Resources in the longer run.
We have contacted the company and it appears that the company agrees with our view and stresses that there is absolutely no reason to question the toll treatment arrangements regardless of BHP's decisions.
The Wrap
We conclude that investors seeking exposure to quality (Australian) nickel miners have shifted their money away from Mincor Resources to its peers such as Western Areas (OTCPK:WNARF) which continues to flourish. We strongly believe that this situation is caused by an unfounded over-reaction to BHP's stated plans. We expect this over-reaction to be reversed in due course.
In our opinion Mincor Resource offers unchanged deep value, but at a much reduced price. The risks associated with BHP's decisions regarding the Nickel West unit are minimal and concerns leading to the recent sell-off are overblown. The current dip represents an unexpected and highly attractive entry point which we intend to take advantage of in coming days. We are looking to re-enter Mincor Resources at A$0.65 or less with an unchanged price target well north of A$1. Additionally, we note that at a share price of A$0.65 we are looking at a 6+% dividend yield extrapolating from past payouts.
Editor's Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

[tricha]

That's good news JB, Mincor has had another good quarter, price wise.

they should be able to add to their 60 million cash and no debt.

AND WITH Mr Moore at the helm,risk is very low.

[JBmurc]

Been buying more of MCR on friday and plan to least get 80-100,000 holding before the years out...real no brainer when see the Ni shortage in mid-long term real no brainer investment ...just read the reports below unlike the PM / Oil&Gas sector that look to be heading even
further out of favour.... Ni is going be a market daring and should be the next boom metal think REO,U308,Graphie,shale oil has gone through... ......hard to know where the likes of MCR will go SP wise they did topped out round $5 from memory ....few years back

http://www.royalnickel.com/_admin/_media/Ferro-alloys-Nickel-Session-28-Mar-12-M-Selby---Nickel---FINAL-1.pdf

http://www.insg.org/presents/Mr_Mulshaw_Apr14.pdf

http://www.reuters.com/article/2014/09/11/philippines-nickel-home-idUSL5N0RB3SI20140911

Disc - any other Nickel plays worth a look ??? $11-12lbs USD coming ...also AUD/USD looking to head lower mid 80's ??

[JBmurc]

It's looking good for a 100% profit in my MCR holding paid 66.5c ;)
only few more cents to go


Crazy ....round 10yrs ago I brought into MCR 66.5c which is the exact price I paid again on friday ......be great if it plays out like last time ....geez even half as good $2 etc will do

[Okebw]

any other Nickel plays worth a look ??? $11-12lbs USD coming ...also AUD/USD looking to head lower mid 80's ??

I've been keeping an eye on MLX. Yet to pull the trigger though. Profitable, low PE and with 80 mil in the bank. Well diversified between gold, tin and nickel

[gazprom1]

Well, I have joined the register. Mkt Cap is a dismal $113M. Unjustified given the amount of cash on hand and the tight reign management have on costs. Seems pretty beaten up. Good buying towards the close today. Always feel nervous catching a falling sword but can afford to catch this one. Will continue buying if it slides further.

gaz

[JBmurc]

Yes Gaz Nickel got hit hard overnight really need to see a major drawdown in Ni stockpiles which many expect to be happening till we head into shortages next year.....

Also buying more MCR likely see the high 50's today

[stevo1]

JB LME shows nickel stocks at 380000 and rising until they fall surely cannot be good for any Ni companies
http://www.kitcometals.com/charts/nickel_historical_large.html
despite that MCR is well run and has metal inground.Future predictions can be so often wrong/changed .Maybe a little early for entry?

[JBmurc]

Have read three reports on Ni future here's one from - Macquarie Commodities Research ....they all basically the same on the fact the demand will outstrip the large stockpile much faster than in the past...


http://www.directnickel.com/wp-content/uploads/2014/05/TheNickelMarketOutlook070414P.pdf


Impact on the market is delayed by large stocks of nickel ore in China and elsewhere of around 250-300kt nickel and of course large refined stocks on LME and in China.

However, these stocks will rapidly deplete in 2014/5 and, more importantly, those controlling those stocks will hold on to them more tightly if they think prices will rise.

Once stocks are depleted, it is a mystery where supply will come from! This is a repeat of the situation leading up to 2006/7.

[gazprom1]

JB,

Lots of talk around the supply side. I always get a bit nervous when everybody is saying the same thing. US$9 to $10lb will do nicely for MCR so a 20% odd rise from where we are. Is my understanding correct that the chinese are funding plants in Indonesia for the processing of nickel ore and that they will be on line 2016/17?

Bought some more today. Could be more weakness in the SP but cash/ dividends should help underpin the SP.

Cheers
Gaz

[JBmurc]

Yes on the plants in Indonesia....from the report

Indonesia verses Chinese NPI plants?
 Ore costs substantially lower if plants built at mines (barging costs in Indonesia are high).  Labour costs are higher in Indonesia (2-3x) and skilled workers hard to get.  Power costs might be comparable, if power was available (need to build power plants).  Chinese efficiencies may not be readily transferrable to Indonesia?
 Ancillary costs and engineering services substantially higher in Indonesia.  New RKEF plants in China are at/near stainless plants enabling hot metal transfer.  Capital costs would be substantially higher than in China (3x higher?):
1. In China, infrastructure such as ports, rail, power, engineering services, etc are already in place (essentially “free” to a new producer).
2. Chinese experience in building overseas (e.g., Ramu in Indonesia, Sino Iron in Australia) shows low-cost and quick build Chinese model is easily not transferable off-shore.
3. If Chinese investors, law requires foreign equity share to go below 50% after start-up.

[okay]

Disc - any other Nickel plays worth a look ??? $11-12lbs USD coming ...also AUD/USD looking to head lower mid 80's ??

Hi JBmurc
I came across this site today. Has a great filter on it, you can filter companies by country, by metal. I'm no expert on metals btw, just finding this nickel discussion interesting and thought I would pass on the link for readers. If you click on the link it is set for all aussie nickel miners. Cheers OK
http://www.miningfeeds.com/nickel-mining-report-australia

[JBmurc]

Hi JBmurc
I came across this site today. Has a great filter on it, you can filter companies by country, by metal. I'm no expert on metals btw, just finding this nickel discussion interesting and thought I would pass on the link for readers. If you click on the link it is set for all aussie nickel miners. Cheers OK
http://www.miningfeeds.com/nickel-mining-report-australia

Yeah come across that site just the other day ....gives you a good run down on other Ni companies to compare....Like PAN

another good site for Stainless / NIckel -http://www.estainlesssteel.com/stainless-steel-news.shtml

PAN has round 170kt Ni resource compared to MCR 117kt ....but then PAN E.V is 200mill compared to 50mill for MCR personal I really like PAN for it's Gold/PGM exposure but personal think Nickel wise MCR is a better bet with a much better exploration outlook--

Like Kambalda one of the world’s great nickel districts----Mincor has nearly 50% of the prospective geology of the Kambalda Nickel District – 130 kilometres of prospective contact.....

Voyce-Turner Mineralised Cluster... very exciting high 7%+ grades and with MCR large spend up in exploration think we will massively increase are Ni resource base

[JBmurc]

Brighter future predicted for Australian nickel 26 September, 2014 Kevin Skinner*
An average nickel price of US$20 000 per tonne has been forecast for Australian nickel producers in 2015 – but the sector has been urged to keep its grass roots focus on untapped potential nickel discoveries in Australia, rather than overseas. The price expectation is more than 11 per cent higher than the average US$18 000 evident in the sector so far in calendar 2014 – with Perth-based Alto Capital research analyst, Carey Smith, saying returns could go even higher due to pressure from the greenback. “By next year, I expect that the Australian dollar will be trading around the range of 85-87c to the US dollar on average and that will be a bonus for Australian nickel producers,” Smith said. “That exchange market environment can potentially add another 20 per cent in Aussie dollar terms to revenue for producers, so the outlook for nickel not only looks pretty rosy at the moment but continues to hold firm for the long-term,” he said. Alto Capital’s upbeat 2015 price outlook comes on the eve of next week’s one day Australian Nickel Conference in Perth on Thursday October 2 – a forum both Smith and organisers say will be held amid the most elevated outlook for the commodity in some years. Nickel was trading below $US14 000/t at the close of last year’s conference but Smith says the base metal has since easily accounted for predictions that it could exceed $US18 500/t in 2014. “For Australia’s nickel explorers, a positive nickel market makes it much easier to raise capital so the sector should be confident of at least a forward 12 month window of raising funds,” Smith said. “However, a dose of realism is also needed and while there is always pressure to unearth the next big discovery, our junior explorers have time on their side – particularly if they are venturing into Western Australia’s Fraser Range,” he said. “While Sirius Resources ignited that region when it struck nickel sulphide mineralisation at Nova just over two years ago, Fraser Range is still a very fresh nickel province and we should not expect the Sirius success to be replicated in any sort of hurry,” Smith said. “Two years in a whole new province isn’t a long time to get to understand its geology and my sense is that nickel explorers already in or planning to enter the province have a two-year window or so in order to make the level of discoveries that can keep market sentiment interested in both nickel, and the Fraser Range.” Smith noted that some Australian explorers are seeking opportunities away from Australia but nickel-minded players did not need to look much further than Western Australia. “Historic nickel-bearing hot spots such as Kambalda and Leonora/Leinster still offer great potential for significant nickel discoveries, as well as Fraser Range, as there is still plenty of nickel to be discovered in those areas,” he said. “This is because nickel is a very hard to find base metal, with very small footprints that are mostly nickel sulphide deposits.” He called on proven nickel companies to play a role in reinvigorating the Australian nickel industry by supporting wider grassroots and brownfields exploration. Australian Nickel Conference Convenor, Bill Repard, said the nickel sector had been energised this year, partly by speculation about how rapidly China was depleting its 2013 ore stockpile of 25 million tonnes, and similar speculation on when and if the Philippines would follow Indonesia’s path and impose export bans on unprocessed nickel ore. “Currently, there are no new large-scale nickel projects coming on stream and existing or mooted export bans will only add to the pace at which supply and demand pressures must invariably spike a price rise,” Repard said. *Kevin Skinner is with Field PR.

[Skol]

Just bought some of these so it's fingers crossed as usual. Nickel price back and there seem to be support around the 60c level, a few technical factors make it attractive as well.

[JBmurc]

Yes have to agree with you on that skol.....good buying support round these levels ...like to buy a few more get my average down closer to the 60c mark

[JBmurc]

reasons for the weaker Nickel price of late

://www.reuters.com/article/2014/09/23/us-china-nickel-home-idUSKCN0HI2B120140923

[JBmurc]

Mincor CEO sees strong nickel market in 2015 on uptick in global economy
Gold Coast, Queensland (Platts)--1Oct2014/147 am EDT/547 GMT

Australian nickel producer Mincor Resources expects the nickel market to perform strongly in 2015 and move back above the $20,000/mt level as demand is boosted by a booming US economy and a stock drawdown in China, company CEO David Moore told a conference in Queensland Wednesday, October 1.

The LME nickel price stood at $16,505/mt Tuesday, but has largely traded in the range of $18,200-20,000/mt since Indonesia imposed a ban on nickel laterite ore exports in January, hitting a year-to-date peak of $21,500/mt in early May, LME data showed.

"I am pretty positive on the nickel price for next year and think we are going to endure weakness for the rest of this year and then we could see a nice step up," Moore told Platts on the sidelines of the Resources Rising Stars conference on Queensland's Gold Coast.

Most analysts were still forecasting strong prices for next year despite being a little less certain due in part to the increase in exports from the Philippines, Moore said

China has relied on its own stockpiles of ore and imports from the Philippines to meet its requirements since the Indonesian export ban was imposed, but Moore said this was mostly lower grade ore and not capable of filling the void left by the Indonesian ban.

"My view is that the original thesis is still there, that is, that 20 million mt of laterite ore stockpiled in China has been chewed through, augmented a bit perhaps by the Philippines, but it will be chewed through within the next six months and after that there will be another increase in the price, maybe to $20,000/mt," he said.

Moore said demand for nickel looks healthy as the US economy picks up, Britain looks stronger and Europe was showing "vague signs" of life. "There is a slowdown in China but the US is still the world's strongest economy and that can have a huge impact," Moore said.

Mincor produces nickel ore at its Miitel and Mariners mines in the Kambalda district of Western Australia, which is turned into concentrate at Nickel West's Kambalda smelter.

Nickel West's current owner BHP Billiton said in August it was trying to sell the business.

Mincor has an offtake agreement until 2019 with Nickel West to sell all concentrate to the smelter at a price based on the monthly average of the LME nickel price, which Moor said would be binding on a new owner.

"Our concentrate is vital to the smelter which is the main asset at Nickel West. Whoever owns the smelter really needs to keep it full and it really relies on ores from central Western Australia," Moore said. Mincor produced 10,219 mt of nickel in ore in fiscal 2013-14 at a cost of A$4.96/lb ($4.29/lb) and targets producing 8,500 mt in fiscal 2014-15 at a cost of A$5.30/lb.

[stevo1]

"My view is that the original thesis is still there, that is, that 20 million mt of laterite ore stockpiled in China has been chewed through, augmented a bit perhaps by the Philippines, but it will be chewed through within the next six months and after that there will be another increase in the price, maybe to $20,000/mt," he said.
JB------ Moore is making a big call there!!!He may be right

If he is wrong then not so good for MCR because the output projected will be less than current year?And at higher $AUcost.
"Our concentrate is vital to the smelter which is the main asset at Nickel West. "Whoever owns the smelter really needs to keep it full and it really relies on ores from central Western Australia," Moore said. Mincor produced 10,219 mt of nickel in ore in fiscal 2013-14 at a cost of A$4.96/lb ($4.29/lb) and targets producing 8,500 mt in fiscal 2014-15 at a cost of A$5.30/lb."
However having said that he is a clever operator who has guided MCR on a so far profitable past
I am looking to add BUT not until I see LME stock dropping .The LME chart looks like a skyrocket trajectory

[JBmurc]

Yes I'm not buying more just at this stage either as I think it could really just trend sideways for the next few months on the back of the large Ni stockpile ..also a major slowdown in china etc not going help ..still very tempted at these levels

...I agree on Mr Moore being a smart operator .....a good buy if you have a longer term outlook really think one would be rewarded 6-12months (the latter my worst case) ...surely the Ni price will be over 20,000ton USD (22,951ton aud) in that time

.....even at the higher costs MCR will produce for round $10,600ton AUD currently should be getting over 18000ton AUD -$7,400 gross profit from operations .....8000t p.a =59mill AUD.....

Also I only recent found out MCR produces round 1100t copper/cobalt bi-product p.a from the projects giving round 31c credit per lb .....

[JBmurc]

Nickel market deficits ahead

The impact of economic nationalism on the nickel price has also changed market dynamics. When the Indonesian ban was imposed nickel rose 45% from February to June revealing how much the market depended on Indonesia’s low grade laterite ore. The ban sent stocks like Sirius running until the early September break in spot iron ore which stopped the rise in its tracks. While nickel is now back below US$8lb the $A price of $19,000 a ton is relatively high for companies with grade and volume like Sirius.

Vale, the owner of Inco and the huge Voisey’s Bay nickel deposit has entered the field near the Sirius tenements. Poseidon’s purchase of Norislk’s Black Swan nickel mine and ore body also looks timely. Black Swan has been moth-balled since 2009, but now provides a very low cost plant for Poseidon’s Windarra deposit. The company is nothing if not bullish and quotes Wood McKenzie, the global resources consultant which forecasts that even without the Indonesian ban nickel will be in deficit for a decade.

[stevo1]

Nickel market deficits ahead

The impact of economic nationalism on the nickel price has also changed market dynamics. When the Indonesian ban was imposed nickel rose 45% from February to June revealing how much the market depended on Indonesia’s low grade laterite ore. The ban sent stocks like Sirius running until the early September break in spot iron ore which stopped the rise in its tracks. While nickel is now back below US$8lb the $A price of $19,000 a ton is relatively high for companies with grade and volume like Sirius.

Vale, the owner of Inco and the huge Voisey’s Bay nickel deposit has entered the field near the Sirius tenements. Poseidon’s purchase of Norislk’s Black Swan nickel mine and ore body also looks timely. Black Swan has been moth-balled since 2009, but now provides a very low cost plant for Poseidon’s Windarra deposit. The company is nothing if not bullish and quotes Wood McKenzie, the global resources consultant which forecasts that even without the Indonesian ban nickel will be in deficit for a decade.
JB I entered MCR this morning at 56.5cps with 1/4 of what I want.I am still not convinced that NI is going where the predictions suggesting.Until that LME stockpile reduces significantly ,may well have entered too early.

[JBmurc]

6305



JB I entered MCR this morning at 56.5cps with 1/4 of what I want.I am still not convinced that NI is going where the predictions suggesting.Until that LME stockpile reduces significantly ,may well have entered too early.

Yes very good Stevo ....personal I will be buying more sub 60c as the funds become ava,,,,heres a post I just posted on HC

Well not for the experts(rough numbers) ....but in taking the current AUD Ni price as average 2015 fy sale price(low ball) ....and putting the projected costs / production numbers together(they do off-set each other) ,,,with the use of the Paterson's report I come up with round a esp NPAT-$10-12mill AUD low side target IMHO ...(flame away experts)

Now MCR have paid divi's for the last 12yrs p.a

....don't see any reason why they would stop now....7% yield p.a.... fine by me,

,,,and are embarking one one of the biggest exploration projects in some time on prime Nickel
grounds ...Increase Reserves...Triple the likes of PAN are investing in exploration

-Will increase their Cash balance closer to $60mill (march/april 2015 etc)

-Major Plant upgrades before USD/AUD went against them (smart smart)

-Major Leverage on Projected higher AUD Ni prices (read many a report that back this up) with MCR having
other Projects that would come on stream at higher prices....


Disc-I have used AUG 14 Pattersons Analyst report to help with some of the numbers

[stevo1]

6305




Yes very good Stevo ....personal I will be buying more sub 60c as the funds become ava,,,,heres a post I just posted on HC

Well not for the experts(rough numbers) ....but in taking the current AUD Ni price as average 2015 fy sale price(low ball) ....and putting the projected costs / production numbers together(they do off-set each other) ,,,with the use of the Paterson's report I come up with round a esp NPAT-$10-12mill AUD low side target IMHO ...(flame away experts)

Now MCR have paid divi's for the last 12yrs p.a

....don't see any reason why they would stop now....7% yield p.a.... fine by me,

,,,and are embarking one one of the biggest exploration projects in some time on prime Nickel
grounds ...Increase Reserves...Triple the likes of PAN are investing in exploration

-Will increase their Cash balance closer to $60mill (march/april 2015 etc)

-Major Plant upgrades before USD/AUD went against them (smart smart)

-Major Leverage on Projected higher AUD Ni prices (read many a report that back this up) with MCR having
other Projects that would come on stream at higher prices....


Disc-I have used AUG 14 Pattersons Analyst report to help with some of the numbers

Looks mighty like either someone divesting or sp is being walked down or something else so yea falling

[JBmurc]

Yes major holder has been selling
For awhile not too stressed brought for a longer term hold
And will buy more soon enough

[okay]

I see those LME Nickel warehouse stock levels continue to rise. Put on another little spurt up to 373k today

[stevo1]

I see those LME Nickel warehouse stock levels continue to rise. Put on another little spurt up to 373k today

Price of LME Nickel $US 15,753.00 518.00 Down 3.18%.Still sitting on my hands .

[JBmurc]

Kohler says:

Summary: The world’s biggest nickel producer and a number of investment banks believe the worst is over for nickel. Despite past price falls and a major fraud in metal financing, observers believe the market is now balanced. China is searching for a replacement of the raw material it lost after Indonesia banned unprocessed exports, and shipments from the Philippines are set to ease in coming months. Key take-out: If ANZ’s forecasts are correct, the nickel price could lift more than 50% to over $US11 a pound over the next 12 months. Key beneficiaries: General investors. Category: Commodities. Nickel, the metal which has given Australia some of its most exciting mining moments over the past 50 years, is shaping up for another period of intense news generation as pressure builds among international metal traders and local nickel-mining companies. Bankers can sniff the change coming, with normally cautious analysts at ANZ tipping a 50% increase in the nickel price over the next 12 months. Producers, including the world’s biggest, Russia’s Norilsk Nickel, say the market for the steel-hardening metal is balanced today but poised to surge higher. Market regulators, including the all-important London Metal Exchange, have reported highly unusual movement in nickel stockpiles, which indicates a significant shift in the way the metal is being stored and traded. Australia’s biggest producer of the metal, BHP Billiton, is trying to sell its WA-based Nickel West division but either can’t get the price it wants, or is hanging on for the forecast increase in the price of the metal to maximise the value of the deal. For investors, some shell-shocked by the collapse in the price of other minerals and metals, especially gold and iron ore, the suggestion of a nickel revival might be hard to digest. But that’s when it becomes important to remember what Hugh Morgan said in a Eureka Report exclusive two weeks ago (see Morgan: Base metals to rebound first): that it would be the base metals (copper, zinc, nickel and aluminium) which would lead the recovery in mining. The former head of Western Mining Corporation (WMC), the company which pioneered Australia’s nickel industry in 1966, warned that there was a tendency to view Australian mining through a narrow lens which focussed on iron ore and coal. “But we shouldn’t forget the base metals (copper, zinc, nickel and aluminium), and even gold,” Morgan said. That observation needs repeating because of the recent sequence of events that are dramatically changing the nickel market, although with one action cascading over the next it has become difficult to see the overall trend. Figure 1: Nickel spot price, past 12 months To get a better understanding of what’s changed in nickel consider this sequence of game-changing events: Ten years ago, an earlier nickel boom forced Chinese steel mills to find additional sources of nickel to produce stainless steel. They invented a new trade in unprocessed, low-grade ore, shipped from Indonesia. Dubbed Nickel Pig Iron (NPI), the new material quickly flooded the market, killing the nickel price which plunged from $US12 a pound to $US6/lb. Last year, the Indonesian Government said it would ban the export of unprocessed ore. At first, the threat was dismissed as political posturing, but the ban has been introduced and the trade is almost dead. At the same time as the ore-trading ban was coming into effect two other things happened. The price of nickel shot up from $US6/lb to $US9/lb, and a major fraud in “metal financing” was uncovered in the Chinese port of Qingdao where different banks discovered that they had been making loans secured by the same stockpile of metal. As the fraud was unravelled and ownership of stockpiled metal sorted out the nickel market was plunged into more uncertainty by the unexpected delivery of close to 100,000 tonnes of nickel metal into warehouses managed by the London Metal Exchange. The “new” metal represented a 35% increase in LME stocks which rocketed up from around 280,000 tonnes to 380,000 tonnes, a flood of metal which was met by a corresponding fall in the nickel price, back to around $US7.30/lb. Today, there is a growing realisation that the metal delivered to the LME is not new metal. It is the metal being shipped out of fraud-riddled Qingdao. Because of the Chinese metal-financing fraud, and because nickel is a metal which has always had a second-tier and less transparent set of stockpiles (such as those kept by steel mills) there is a reluctance to accept that all the bad news is in the market. Norilsk Nickel believes the worst is over, as do ANZ and a number of other investment banks. The head of strategic marketing at Norilsk, Anton Berlin, told the Bloomberg news service on October 9 that the rise in the LME stockpile masked a balanced market. “What is happening now is that the stockpiles are just flowing from non-transparent to transparent warehouses,” Berlin said. ANZ shares that view. Its senior commodity strategist, Daniel Hynes, said in a research note last week that recent Chinese “exports” of nickel were “merely the movement of previously hidden inventories”. In China, the world’s biggest consumer of nickel, a rush is on to find a replacement of the raw material lost through the Indonesian ban on unprocessed exports. That has led to a rise in shipments from the Philippines, but that is lower grade ore and there is less of it. With multiple factors at work, including the biggest issue of all, whether Indonesia will retain its ore-export embargo, the nickel market is entering unchartered waters with supply and demand being buffeted by competing forces and distorted by the Qingdao fraud. ANZ, however, is clear in its interpretation of the situation. “The fundamentals remain unchanged,” Hynes wrote. “The market remains on track to move into a sizeable deficit as the Chinese NPI industry adjusts to life without Indonesian nickel imports. “In the short term, rising LME inventories will remain a headwind, as with the rising U.S. dollar. But with Philippines exports expected to ease in the coming months, we feel prices should start to ease higher over the last couple of months of the year. “Real upward momentum in prices is still not expected until early 2015.” If that assessment by the ANZ’s senior commodity strategist is correct than his nickel-price forecast might also be correct, and that’s for a tighter market pushing the price “beyond $US25,000 a tonne” – or more than $US11/lb

[JBmurc]

As nickel continues its slump from early year highs, companies are dealing with one of the surprise stories of the year. Though interest in the base metal dramatically picked up in January as Indonesia banned ore exports and the Philippines threatened to follow suit, since September it has been in a steady fall.

Despite that decline, there is some hope for nickel, which remains a tough competitor in the resource space.
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The rise

Nickel prices spiked in May, climbing to $9.50 per pound. The growth came on the back of Indonesia — the world’s largest supplier of the ore — deciding to halt exports in an effort to stimulate its economy. Indonesia supplied about one-third of the world’s nickel in 2013, equivalent to 834,200 tonnes. As a supplier, Indonesia sold most of its nickel to China (the greatest user of the metal). With no Indonesia to help supply, prices started climbing over fears of a nickel deficit.

Prices started to ease over the course of the summer only for a congressman in the Philippines — responsible for producing 315,600 tonnes of nickel last year — to announce he would be looking into having a bill passed that would follow Indonesia’s move and ban ore exports. Again, nickel prices picked up.

The fall

But the rise was shortlived. The discussion about the Philippines banning nickel exports cooled down, with government officials saying the bill wouldn’t be debated until mid-2015. On top of that, a growing US dollar and China finally easing the throttle on its enormous economy prompted drops.

Since it hit its peak in May, the metal has dropped 24 percent.

According to the Financial Times, China had been holding on to hidden inventories of nickel and has finally released them

Still the metal to watch

While there is some doom and gloom around the metal’s current performance, hints of optimism are shining through. Nickel is approaching the mark it started the year on — around the $6 range — and is still far above lows seen in 2013.

Australia is a particular bright spot. The Wall Street Journal reports that the country’s weakening dollar has helped protect its nickel miners from the damage other mining companies have faced. Indeed, nickel prices Down Under have only fallen 6 percent, far below what the rest of the world has seen.

According to the publication: “As the local currency falls, Australian companies get significantly more income when repatriating their U.S.-denominated earnings. That’s a big benefit for nickel miners including Western Areas and Independence Group, which count nearly all of their costs in Australian dollars.”

And, as Nickel Investing News reported in September, Australia’s Fraser Range is still being scoped out by companies such as Vale (NYSE:VALE), showing there is still lots of life in the metal in that area.

Australia aside, the Financial Times points out that if Indonesia holds its nerve and refuses to ease up on ore exports then there will likely be a lack of supply in the market worldwide. The Philippines won’t be able to handle demand from China and make up ground for the rest of the world.

“Nickel is still the metal to watch for in 2015,” Colin Hamilton, an analyst with Maquarie, told the publication.

[macduffy]

A solid quarter for Mincor, production increased and costs down compared with the previous quarter. Cash and ore reserves pretty much replenished.

http://www.asx.com.au/asxpdf/20141022/pdf/42t2jcg5gm3t2d.pdf

[JBmurc]

A solid quarter for Mincor, production increased and costs down compared with the previous quarter. Cash and ore reserves pretty much replenished.

http://www.asx.com.au/asxpdf/20141022/pdf/42t2jcg5gm3t2d.pdf


Yes and some new Plant ...MCR is prime for growth longer term late 2015-16-17 on the back of a higher Ni price I'd say we would see MCR get back to old records that seen them drive the SP passed $4 and included them on the ASX200

[macduffy]

From FN Arena.

Macquarie rates MCR as Outperform (1) - Mincor's Sep Q nickel production beat the broker by 8%, largely due to a better performance at Mittel. Cash costs improved but cash flow was only breakeven, and news on exploration was mixed, the broker notes. The cost of MCR's fleet replacement program is taking its toll.
Target nevertheless rises to 85c from 80c and Outperform retained.
Target price is $0.85 Current Price is $0.59 Difference: $0.26 If MCR meets the Macquarie target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Macquarie forecasts a full year FY15 dividend of 4.00 cents and EPS of 5.70 cents . At the last closing share price the estimated dividend yield is 6.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.35.

[tricha]

From FN Arena.

Macquarie rates MCR as Outperform (1) - Mincor's Sep Q nickel production beat the broker by 8%, largely due to a better performance at Mittel. Cash costs improved but cash flow was only breakeven, and news on exploration was mixed, the broker notes. The cost of MCR's fleet replacement program is taking its toll.
Target nevertheless rises to 85c from 80c and Outperform retained.
Target price is $0.85 Current Price is $0.59 Difference: $0.26 If MCR meets the Macquarie target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Macquarie forecasts a full year FY15 dividend of 4.00 cents and EPS of 5.70 cents . At the last closing share price the estimated dividend yield is 6.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.35.

As a company goes, Mincor is still as solid as a rock, with lots of cash, no debt and a captain that is rare in today corporate world.
Well worth a punt .

[gazprom1]

Nickel up strong overnight....up nearly 75cents a pound since late October. MCR continues to drift lower. Have been continuing to buy but have enough. Can only think it is general market sentiment that is driving MCR lower. Still profitable at current Nickel prices and has a nice cash balance.

Gaz

[macduffy]

Any thoughts on what, if any effect the fate of BHP's nickel division might have on the likes of MCR, PAN etc?

As we know, the output from these miners is sold to and processed at BHP's smelter under contract, with a price calculated retrospectively on the world price of nickel. BHP proposed to include their nickel assets in the forthcoming spinoff of non-core operations - tentatively known as "Newco" - but the latest reports indicate that this is unlikely as the contingent liabilities associated with rehabilitation of sites would be too high for the new company's balance sheet to absorb. So instead, either the nickel ops will be sold off - unlikely, for the same reason - or, more likely, left with BHP and gradually run down. Now, where would that leave MCR etc?

[Schrodinger]

Any thoughts on what, if any effect the fate of BHP's nickel division might have on the likes of MCR, PAN etc?

As we know, the output from these miners is sold to and processed at BHP's smelter under contract, with a price calculated retrospectively on the world price of nickel. BHP proposed to include their nickel assets in the forthcoming spinoff of non-core operations - tentatively known as "Newco" - but the latest reports indicate that this is unlikely as the contingent liabilities associated with rehabilitation of sites would be too high for the new company's balance sheet to absorb. So instead, either the nickel ops will be sold off - unlikely, for the same reason - or, more likely, left with BHP and gradually run down. Now, where would that leave MCR etc?

Read some good articles about the Philippines v Indonesia v China and the current oversupply. Consensus was that the dumping by China was ending and the large stocks built up would reduce. Strong overall demand is growing yoy so this should be a good bet long term.

Was surprised how fast this stock increased earlier in the year.

[gazprom1]

Any thoughts on what, if any effect the fate of BHP's nickel division might have on the likes of MCR, PAN etc?

As we know, the output from these miners is sold to and processed at BHP's smelter under contract, with a price calculated retrospectively on the world price of nickel. BHP proposed to include their nickel assets in the forthcoming spinoff of non-core operations - tentatively known as "Newco" - but the latest reports indicate that this is unlikely as the contingent liabilities associated with rehabilitation of sites would be too high for the new company's balance sheet to absorb. So instead, either the nickel ops will be sold off - unlikely, for the same reason - or, more likely, left with BHP and gradually run down. Now, where would that leave MCR etc?

BHP look to have given up on the sale process. Obviously, there is a contract in place between MCR and BHP for the next few years....is it through to 2017? You would hope that MCR management are looking at options - I have no idea what they could be - partial purchase with another third party, etc???

IMHO it is just a matter of time before the SP of MCR moves up. I hope Indonesia does not resume exports of raw material as that would have a material impact on the price of Nickel.

Nickel up another 1.1% overnight. Selling pressure remains on MCR. PAN had some relief but has been hammered more than MCR.

Gaz

[macduffy]

Thanks for your thoughts, Gazprom.

I guess the worst possibility would be that BHP bite the bullet, accept the remediation costs, run down and eventually close the smelter. MCR etc would then be faced with the prospect of exporting the bulk Ni ore - is that economically feasible? - certainly not as profitable. Kambalda remains one of the richest Ni provinces in the world - a huge advantage as long as costs remain manageable.

[gazprom1]

Thanks for your thoughts, Gazprom.

I guess the worst possibility would be that BHP bite the bullet, accept the remediation costs, run down and eventually close the smelter. MCR etc would then be faced with the prospect of exporting the bulk Ni ore - is that economically feasible? - certainly not as profitable. Kambalda remains one of the richest Ni provinces in the world - a huge advantage as long as costs remain manageable.

You are welcome. I see PANs announcement this morning states that their contract with BHP runs until 2019. On that assumption, even if MCR's contract expires earlier (which I don't know), you would think that BHP would continue treating MCR's ore until at least 2019 in line with PANs. It would make economic sense. So nearly 5 years before a potential problem - a lifetime in the markets!!!

Gaz

[gazprom1]

Just re-read the annual report and it states that the off take agreements with BHP expire at various times between 2016 and 2019. So, some degree of certainty although MCR would be looking to extend the contracts out that are expiring to at least 2019 or beyond.

Nickel up just under 2% last night....well over A$17,000/t so profits are being made but not super profits. IF, and it is an IF, the dividend is maintained at 4 cents/ share, current yield is 7.41%.

Gaz

[tricha]

Just re-read the annual report and it states that the off take agreements with BHP expire at various times between 2016 and 2019. So, some degree of certainty although MCR would be looking to extend the contracts out that are expiring to at least 2019 or beyond.

Nickel up just under 2% last night....well over A$17,000/t so profits are being made but not super profits. IF, and it is an IF, the dividend is maintained at 4 cents/ share, current yield is 7.41%.

Gaz

page 9 picture shows Mincors profit right now would tracking along very nicely, at about $8.50 a ilb Oz


http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=699451

[tricha]

page 9 picture shows Mincors profit right now would tracking along very nicely, at about $8.50 a ilb Oz


http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=699451

not only is Mincor tracking along very nicely with 50 million in the bank and no debt.
Reserve upgrade is looking very promising.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=697220

[macduffy]

not only is Mincor tracking along very nicely with 50 million in the bank and no debt.
Reserve upgrade is looking very promising.

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=697220

Not quite a reserve upgrade, tricha, but good news nevertheless.

The reserves and resources numbers are those first announced on 18 August 2014 - and as at June 2014. The good news is that the latest discovery "could underpin a resources upgrade for the northern extension of the Miitel Mine."

Cheers

[okay]

I see those LME Nickel warehouse stock levels continue to rise. Put on another little spurt up to 373k today

The above quote was 15 Oct 2014.
Latest LME nickel stockpile 398 064 tonnes. Up over 7500 tonnes in the last week.

[David Hardman]

The above quote was 15 Oct 2014.
Latest LME nickel stockpile 398 064 tonnes. Up over 7500 tonnes in the last week.

Interesting take on how relevant/important the LME stocks piles are.

http://aheadoftheherd.com/Newsletter/2014/Open-The-Door.htm

[macduffy]

Thanks, David.

If that analysis is anywhere near the mark it makes a strong case for investing in the Aussie Ni miners such as MCR, PAN etc!

[h2so4]

Interesting take on how relevant/important the LME stocks piles are.

http://aheadoftheherd.com/Newsletter/2014/Open-The-Door.htm

Oh that's a lovely photo of (Ricky).:)

[stevo1]

MCR still showing weakness.Have now bought 1/2 of what I want but frankly it is a bit of a worry to see the SP still slumping .Now will sit on my hands until sp recovers.I dont like buying on a downtrend.

[Huang Chung]

Western Areas went through a competitive tender process and opted to continue to send their concentrate overseas.

http://stocknessmonster.com/news-item?S=WSA&E=ASX&N=701566

[gazprom1]

Nickel up 3% overnight and yet LME stockpiles of nickel continue to grow. MCR's SP pretty static to down but IMO just a reflection of the sentiment of the market. Dividend yield at 7.5%. PAN's SP in comparison has been badly beaten up.

Gaz

[Daytr]

Couple of comments.
I think these guys are good honest operators, however they don't promote themselves well enough compared to the likes of PAN.
I was looking at both PAN & MCR weighing up which is the better investment. They both actually stack up quite well.
MCR lower cost producer, but only produce 10k tons a year.
PAN double the production at higher cost. MCR has the reserve & resource base to be producing more & I think this is where they don't get as much bang for their buck in a rise in the Ni price compared to PAN for example.
I'll be patient, on either & happy to miss the boat, but PAN is up 8% today & I would rather wait until it settles before taking a position.

[tricha]

Couple of comments.
I think these guys are good honest operators, however they don't promote themselves well enough compared to the likes of PAN.
I was looking at both PAN & MCR weighing up which is the better investment. They both actually stack up quite well.
MCR lower cost producer, but only produce 10k tons a year.
PAN double the production at higher cost. MCR has the reserve & resource base to be producing more & I think this is where they don't get as much bang for their buck in a rise in the Ni price compared to PAN for example.
I'll be patient, on either & happy to miss the boat, but PAN is up 8% today & I would rather wait until it settles before taking a position.

MCR costs around $5, sales around $9.00.

it does not take much to figure on this.
Hence if u want 120 thousand shares, be prepared to pay 80 cents.

Mike Moore is conservative and honest to the bone. Unlike PAN who like to bullish.t somewhat.
Anyway watch this space



Buyers
Buy Quantity
Prices
2 9,350 $0.565
2 17,000 $0.560
1 19,874 $0.555
6 76,966 $0.550
1 20,000 $0.545
4 27,698 $0.540
4 51,662 $0.535
7 111,272 $0.530
2 52,000 $0.525
2 59,615 $0.520
31 445,437
Prices
Sell Quantity
Sellers
$0.600 14,469 3
$0.605 13,000 1
$0.610 10,000 1
$0.620 3,523 1
$0.630 12,500 2
$0.650 7,740 1
$0.695 1,743 1
$0.700 44,200 1
$0.730 10,000 1
$0.800 1,500 1
118,675 13