Mincor ( MCR) - A nickel producer in a transition stage

[tricha]

WELL I can not change the thread title, but lets refresh.

Its been a dog of a nickel company in the last 6 months, mine closures, doggy contractors, losses.:(

But there is light at the end of the tunnel and if u do not understand this, it might pay to buy a Warren Buffet book.;)

http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=536513

[Corporate]

tricha it looks like it's been a shocking 5 years!

[tricha]

tricha it looks like it's been a shocking 5 years!

Shocking 5, yes and a shocking one year, but with this buy back, they make an excellent trade and as long as nickel does not tank, they will mount a come back.
The last time I owned them before today, they were $4.50:(

MCRMincor Resources NL FPOhttp://www.stocknessmonster.com/images/australia.gif http://www.stocknessmonster.com/chart/stockness/hist2/ASX/MCR/1y/line/30/0/

[STRAT]

WELL I can not change the thread title,http://www.imageurlhost.com/images/wabkijditz9psw8aqa49_Edit-Thread-Titles.png

[tricha]

http://www.imageurlhost.com/images/wabkijditz9psw8aqa49_Edit-Thread-Titles.png

Cheers for this Strat, it works fine on this new thread :), but not on my old ones, hence I can not change the old one and delete this one.:(

[tricha]

Can anyone remember how AMP used to manipulate the share price, by dumping and pumping.

Well it looks like CBA doing it now,

22nd June - Ceasing to be a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=546289)


5th May Becoming a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=540676)


27th April Ceasing to be a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=538871)


This share buy back will put a stop to this. Looks like OZL have joined the club, PAN should do it to and BPT, it would be far better than a dividend.

[h2so4]

Can anyone remember how AMP used to manipulate the share price, by dumping and pumping.

Well it looks like CBA doing it now,

22nd June - Ceasing to be a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=546289)


5th May Becoming a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=540676)


27th April Ceasing to be a substantial holder from CBA (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=538871)


This share buy back will put a stop to this. Looks like OZL have joined the club, PAN should do it to and BPT, it would be far better than a dividend.

Well they have to keep making their millions somehow.

[tricha]

Well they have to keep making their millions somehow.

I do not think they made anything, they just gave us the opportunity to buy discounted shares, like now.
Like stealing candy from a baby :)


Mincor’s share buy

‐back will be conducted in accordance with the Listing Rules of the Australian Securities

Exchange and the Corporations Act (2001). After a notice period of 14 days the buy


‐back is expected to

commence on 5 July 2011 and continue for up to 12 months. The maximum number of shares that may be
bought back is 20,018,000, or approximately 10% of the Company’s share capital. All shares acquired will
be cancelled immediately. An Appendix 3C is attached to this release in accordance with the Listing Rules.

[tricha]

I do not think they made anything, they just gave us the opportunity to buy discounted shares, like now.
Like stealing candy from a baby :)


Mincor’s share buy

‐back will be conducted in accordance with the Listing Rules of the Australian Securities

Exchange and the Corporations Act (2001). After a notice period of 14 days the buy


‐back is expected to

commence on 5 July 2011 and continue for up to 12 months. The maximum number of shares that may be
bought back is 20,018,000, or approximately 10% of the Company’s share capital. All shares acquired will
be cancelled immediately. An Appendix 3C is attached to this release in accordance with the Listing Rules.



Nothing like buying in a down trend, if u do your homework!


Daily share buy-back notice - Appendix 3E (http://www.stocknessmonster.com/news-item?S=MCR&E=ASX&N=548136) $227,158.10

[Snoopy]

But there is light at the end of the tunnel and if u do not understand this, it might pay to buy a Warren Buffet book.


I want to preface what I am saying by admitting I am not a follower of mining shares. But then again neither is Warren Buffett. That doesn't mean it is not possible to make money from mining shares. But it does mean they are so unpredictable it might be better not to try, for the average market Joe.

Mincor is as far away from a share that Warren Buffet might buy as is possible. I have followed it only because Macdunk was touting it years ago, when the price was $3+ IIRC) as a sure thing and he got upset when I would not commit to fully researching it. It has almost all of its activities concentrated in one area (both geographic and product wise) and that product is an undifferentiated commodity. If you believe that Buffett would even think about investing in a company like this, you are just deluding yourself.

Best advice I can give you Tricha is to read one of those Warren Buffett books you tout. it is clear from your posts on this thread you have never done so.

SNOOPY

[tricha]

I want to preface what I am saying by admitting I am not a follower of mining shares. But then again neither is Warren Buffett. That doesn't mean it is not possible to make money from mining shares. But it does mean they are so unpredictable it might be better not to try, for the average market Joe.

Mincor is as far away from a share that Warren Buffet might buy as is possible. I have followed it only because Macdunk was touting it years ago, when the price was $3+ IIRC) as a sure thing and he got upset when I would not commit to fully researching it. It has almost all of its activities concentrated in one area (both geographic and product wise) and that product is an undifferentiated commodity. If you believe that Buffett would even think about investing in a company like this, you are just deluding yourself.

Best advice I can give you Tricha is to read one of those Warren Buffett books you tout. it is clear from your posts on this thread you have never done so.

SNOOPY

Hmm Snoppy, u need to do some snoppying. ( homework)

If u care to go back many years, on the MCR story, I bought heaps at 48 cents, I had dividends, I had a share issue free into another company Mike Moore created and I sold my last at $4.45

I went to Kalgoorlie to learn the business ( Warren Buffet), I worked in a nickel mine, I met the CEO and this is my 1st re-entry for many years.

This buy back guarantees the price will not drop below my 86 cents re-entry.

PS I also hold PAN, its a far superior company to Mincor, watch this space.

[Snoopy]

Hmm Snoopy, u need to do some snoopying. ( homework)

If u care to go back many years, on the MCR story, I bought heaps at 48 cents, I had dividends, I had a share issue free into another company Mike Moore created and I sold my last at $4.45

I went to Kalgoorlie to learn the business ( Warren Buffet), I worked in a nickel mine, I met the CEO and this is my 1st re-entry for many years.

This buy back guarantees the price will not drop below my 86 cents re-entry.

PS I also hold PAN, its a far superior company to Mincor, watch this space.

Tricha, I misassessed you as another 'paper miner'. If you have gone to that amount of trouble then that is kind of thing you have to do to make this sort of investment a success. Good luck to you.

I stand by what I said about this not being a Warren Buffett investment. And I also stand by what I said in that you don't have to buy a Warren Buffett type investment to do well.

SNOOPY

[tricha]

Tricha, I misassessed you as another 'paper miner'. If you have gone to that amount of trouble then that is kind of thing you have to do to make this sort of investment a success. Good luck to you.

I stand by what I said about this not being a Warren Buffett investment. And I also stand by what I said in that you don't have to buy a Warren Buffett type investment to do well.

SNOOPY

There are two ways to look at this Snoopy.

Mincor will buy back shares up to 98 cents. Do u ask yourself what this imply's, when u could buy them sub 90 cents after this announcement.???


(Warren Buffet clearly states, before u buy a share u need to understand the business.) PAN is a far superior business than Mincor. But Mincor will prop up their price via the buy back.

The answer is u sell your Mincor shares above 98 cents.
Mincors report for this quarter is not looking good.
Pan is a far better option .;)

[tricha]

Mincor is into another transition stage.

They are moving into high grade nickel, hence cash costs should come down.

With the share buy back, which they have hardly started, so they will support the price up to 98 cents.

With so much cash and no debt, Mincor is ripe for the picking.;)

[macduffy]

Not a lot of support there with the SP trading at 75c but at least it hasn't dropped any further today - so far.

I might be tempted back in when the upturn arrives, although the Price of Nickel doesn't inspire a lot of confidence at present.

[tricha]

Not a lot of support there with the SP trading at 75c but at least it hasn't dropped any further today - so far.

I might be tempted back in when the upturn arrives, although the Price of Nickel doesn't inspire a lot of confidence at present.

I bounced in and out today, thanks most likely, to the buyback.


18,020,128 shares still allocated to buy back.

[macduffy]

I bounced in and out today, thanks most likely, to the buyback.



Brave move, tricha!

Are you game to try again today or will you take the lower risk way of waiting for an upturn?

[tricha]

Brave move, tricha!

Are you game to try again today or will you take the lower risk way of waiting for an upturn?

Cheers Macduffy, brave or foolish, tried my luck with PAN today.

Mincor would have payed double, this is akin to betting on horses.:(