MCR - Mincor Resources - Nickel Producer

[gazprom1]

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!

Hi daytr

I am afraid you are incorrect on all points except re the Ni price

1. MCR DO NOT have oodles of reserves as you pointed out. As at financial year end, they only had 23,000 contained Ni. They produced 10,219t in the financial year. Therefore, they only had enough reserves through to 2017 (see company annual report). Every piece of analysis out on MCR points to a lack of reserves as being the major stumbling block for the company. IMHO it is likely that this year will see these reserves grow significantly...which shuld lead to a rerating of the stock.

2. PAN has 230% MORE reserves than MCR NOT less as you pointed out. PAN has 53,000 contained Ni, MCR 23,000t.

3. MCR produces around 45% of PANs production NOT 60%.

It is important that posters try and be accurate as possible in their posts so as not to misinform others.

Please DYOR

gaz

[JBmurc]

Hi daytr

I am afraid you are incorrect on all points except re the Ni price

1. MCR DO NOT have oodles of reserves as you pointed out. As at financial year end, they only had 23,000 contained Ni. They produced 10,219t in the financial year. Therefore, they only had enough reserves through to 2017 (see company annual report). Every piece of analysis out on MCR points to a lack of reserves as being the major stumbling block for the company. IMHO it is likely that this year will see these reserves grow significantly...which shuld lead to a rerating of the stock.

2. PAN has 230% MORE reserves than MCR NOT less as you pointed out. PAN has 53,000 contained Ni, MCR 23,000t.

3. MCR produces around 45% of PANs production NOT 60%.

It is important that posters try and be accurate as possible in their posts so as not to misinform others.

Please DYOR

gaz

Yes very right Gaz I agree MCR are working on increasing mine life...they have done well over the last decade to replace reserves used up from mine production yearly ...

As for PAN vs MCR I personal have switched to waiting to BUY the former on the extra value in Gold & PGM projects not included in their Market value IMHO ..

PAN will be my next purchase once fund become ava....

[Daytr]

Apologies, I was shooting from the hip. I researched these guys a little while back & obviously the memory was a little fuzzy.
I just tried their site to refresh, but couldn't open any link to get to reports. Perhaps its me using a tablet I'm not sure.

[gazprom1]

Another excellent announcement out. MCR is in the process of adding significant new reserves this year. Management has done an excellent job of balancing cash flow with exploration which has left MCR in a strong position for the years ahead. 6 rigs currently drilling so the announcements should continue to flow.

Continue to hold.

Cheers
Gaz

[stevo1]

Another excellent announcement out. MCR is in the process of adding significant new reserves this year. Management has done an excellent job of balancing cash flow with exploration which has left MCR in a strong position for the years ahead. 6 rigs currently drilling so the announcements should continue to flow.

Continue to hold.

Cheers
Gaz

Gaz very little not to like about MCR. Good straight forward management ( rarity on the ASX).They seem to keep on moving ahead with an eye to the future.No debt, upgraded a lot of the machinery .The NI price is the only bugbear but they are still profitable ATM

[stevo1]

Looking very good into the future http://www.asx.com.au/asxpdf/2015021...htm29v8t92.pdf 2cps 1/2 yr div fully imputed but that is of little use to NZ holders. The price of NI today in down 15 cents /1lb today though

[stevo1]

1/4 of the year gone .the x spurt's NI price predictions are looking shot ATM.NI sub $6

[stevo1]

NI under $5 shareprice is getting punished on the future outlook of MCR looking to operate at a huge loss into the coming year.Unless the NI price recovers they could be funked . LME stock levels rising again .So much for the predicted price rises by the "experts"

[JBmurc]

Yes I read many a Bullish report on Ni some time ago ...expert analyst's and all that ...but watched the Ni price drift south at the time and LME stock levels tapping high .....decided to move to the sidelines ...looks like it was the right move

[stevo1]

Yep definitely the right move.There will be a number of producers that do not survive the future .MCR?