MCR's quarterly report.
http://asx.com.au/asxpdf/20110728/pd...qtn86kmh0z.pdf
Expecting a net loss after tax, including writedowns, of approx $23.4m
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MCR's quarterly report.
http://asx.com.au/asxpdf/20110728/pd...qtn86kmh0z.pdf
Expecting a net loss after tax, including writedowns, of approx $23.4m
Mincor have responded with a "know nothing" to the ASX asking if there is a reason for the SP to fall from $1.21 on 13 Nov to 94c yesterday.
My guess is that the AGM on 14 Nov was insufficiently upbeat to sustain earlier SP rises and prompted profit-taking - incidentally, "profit-taking" is a phrase that gets thrown around a lot these days, but may be appropriate here.
Other theories, if anyone is interested, would be welcome.
Agree with the profit taking - could be minimising loss taking too !
No I don't hold -
Could just be,
http://www.kitconet.com/charts/metal...nickel-60d.gif
MCR in a trading halt pending "an announcement by the company"
Looks like news was leaked this morning. Trading halt pending the announcement of drilling results. Given SP was up strong on volume....could be positive drill results. Unusual to go into a TH re drill results re MCR.
I have built up a large holding in MCR.....largest position in my portfolio. Ni stockpiles are historically high on LME but china stockpiles of ore are down. Price of phillipines ore is up...dividend yield is good....profitable at these levels....cash in bank....
gaz
Great drill results. Better than that really. IMHO one of the biggest impediments to MCR increasing its SP has been the limited reserves. This announcement together, i hope, with further news shortly should take this away and the shares should be re+rated accordingly. MCR is profitable at the current price of Ni.
However, the shares were trading at 57 cents this week and are currently 68.5 cents so i am not complaining.
Looking forward to further results and reserves upgrades.
gaz
They have oodles of reserves, they just don't produce enough.
They have more reserves than PAN but produce only about 60% as much from memory.
Considering how nickel has been trading that lift in the SP is a great result!