MCR - Mincor Resources - Nickel Producer

[macduffy]

" Criterion" in The Australian has a piece here on MCR.

http://www.theaustralian.news.com.au...-23634,00.html

[stevo1]

Sold out of mincor (reluctantly) some time ago the nickel price looks bad getting worse and dosent seem to bode well for the future with high aussie dollar and recession .Damn !!really like the company and management but no use going against the tide.

[tricha]

Thats shows how these brokers are a lot load of rubbish!

Mincor will go the distance, as long as Nickel does not tank any Moore, their new mines, Durkin and Otter producing excellent results with the drill bit and cash costs.

I now rate Mincor at fair value on $8.00 plus a ilb OZ.

80 odd million cash in the bank will get them through bad times and not much cash needed for further developement or drilling. If nickel goes up Mincor are a buy, If ?

" Criterion" in The Australian has a piece here on MCR.

http://www.theaustralian.news.com.au...-23634,00.html

Mincor (MCR) $3.46
SPEAKING of stronger for longer, when a broker describes a miner's production result as a "ripper", Criterion takes notice. That's especially the case when the stock is trading on a "bargain basement" price-earnings multiple of 4.5, low even by stingy resources sector standards.
Mincor is emerging as the dominant player in WA's famed nickel field and has enhanced this status with a 9 per cent production boost in the March (third) quarter. Cash costs fell 12 per cent, to $6.12 a pound.
According to Argonaut Securities, that puts Mincor on target for full-year output of 16,000-17,000 tonnes of contained nickel. Management has also upgraded its longer-term target to 20,000 tonnes over 20 years. While Mincor's share price has stacked on 25 per cent over the last three weeks, the Argonauts argue the company hasn't been duly rewarded for "doing everything right".
This includes starting production at the 5000 tonnes a year Carnilya Hill joint venture and increasing its Durkin Deeps resource by 42 per cent, to 18,800 tonnes of contained nickel.
Mincor has also proved up a 21,000-tonne resource at its Stockwell prospect, acquired from BHP for next to nothing (speaking of missed boats, BHP was left on the pier on that one).
Argonaut values Mincor at $3.40 apiece, based on the nickel price coming off from the current $US13 a pound to $US12.50 in 2008-09 and $US10 in 2009-10. If nickel stays at current levels, the valuation rises to $5.24.
We agree that Mincor rates as a speculative buy for those convinced that nickel is the metal of the future, thanks to Chinese households hankering for stainless steel benchtops.
An extra selling point is that Mincor's nickel is shallow and derives from sulphide ore, not the metallurgically difficult laterite stuff. About 65 per cent of global supply is slated to come from laterite deposits, which have over-promised and under-delivered.

[shasta]

Thats shows how these brokers are a lot load of rubbish! Oh and the thread re-name, Someone else put that there when sharetrader did an upgrade hence, we shall re-name.

Mincor will go the distance, as long as Nickel does not tank any Moore, their new mines, Durkin and Otter producing excellent results with the drill bit and cash costs.

I now rate Mincor at fair value on $8.00 plus a ilb OZ.

80 odd million cash in the bank will get them through bad times and not much cash needed for further developement or drilling. If nickel goes up Mincor are a buy, If ?




Mincor (MCR) $3.46
SPEAKING of stronger for longer, when a broker describes a miner's production result as a "ripper", Criterion takes notice. That's especially the case when the stock is trading on a "bargain basement" price-earnings multiple of 4.5, low even by stingy resources sector standards.
Mincor is emerging as the dominant player in WA's famed nickel field and has enhanced this status with a 9 per cent production boost in the March (third) quarter. Cash costs fell 12 per cent, to $6.12 a pound.
According to Argonaut Securities, that puts Mincor on target for full-year output of 16,000-17,000 tonnes of contained nickel. Management has also upgraded its longer-term target to 20,000 tonnes over 20 years. While Mincor's share price has stacked on 25 per cent over the last three weeks, the Argonauts argue the company hasn't been duly rewarded for "doing everything right".
This includes starting production at the 5000 tonnes a year Carnilya Hill joint venture and increasing its Durkin Deeps resource by 42 per cent, to 18,800 tonnes of contained nickel.
Mincor has also proved up a 21,000-tonne resource at its Stockwell prospect, acquired from BHP for next to nothing (speaking of missed boats, BHP was left on the pier on that one).
Argonaut values Mincor at $3.40 apiece, based on the nickel price coming off from the current $US13 a pound to $US12.50 in 2008-09 and $US10 in 2009-10. If nickel stays at current levels, the valuation rises to $5.24.
We agree that Mincor rates as a speculative buy for those convinced that nickel is the metal of the future, thanks to Chinese households hankering for stainless steel benchtops.
An extra selling point is that Mincor's nickel is shallow and derives from sulphide ore, not the metallurgically difficult laterite stuff. About 65 per cent of global supply is slated to come from laterite deposits, which have over-promised and under-delivered.

Tricha

You back as a resource bull?

Gold & Silver goes higher

[tricha]

Tricha

You back as a resource bull?

Gold & Silver goes higher

No, Mincor has reached fair value and if Nickel goes up, will make good coin.

[Huang Chung]

Oh what a joyous night, with Trisha posting about Mincor again.....it's been a long wait whilst you went off and played with oilers.

Good to see you back from the dark side T, even if its only to pay a visit.

[tricha]

Oh what a joyous night, with Trisha posting about Mincor again.....it's been a long wait whilst you went off and played with oilers.

Good to see you back from the dark side T, even if its only to pay a visit.

Hmm, Mincor is my favourite company Huang, it has now reached fair value.

It's a great company, extremely well run by David Moore, Mr Hulme I am unsure about because he has been in bed with Mike the Snake Kierien.

They have some great assets. Durkin and Otter, these are far superior to the original Mincor stable.

Fair value to the point, if nickel goes up, thay are great value.

UnFair value to the point if nickel goes down they are screwed.

Cashed up, no debt, well managed, but heres the curve ball, can u predict the price of nickel

[steve fleming]

Base metals dropped across the board on Thursday, even though oil prices stabilised. A wave of bearish economic news across the globe contributed to the downward move in prices, with nickel particularly hard hit, closing down by 5.9% to reach $18,619/t (844¢/lb), its lowest level since June 2006. Among the bearish indicators were falling business confidence in Europe, rising jobless claims in the US and an 88.9% YoY drop in the Japanese trade surplus in June, with weaker overseas demand reducing exports of Japanese goods.

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The volatilty in these base metals continue to amaze me!

Ni at 2 year lows......2 years ago MCR was trading at approx $1.00....so maybe further downside?....its amazing how quickly these stocks can drop with a bit of negative sentiment and a whole lot of shorteRs on board. Hope she's not another PEM

[Huang Chung]

Ni is probably the most volatile of all the base metals, so the big swings are not entirely surprising. Someone posted on Sharescene or Hot Copper the cash costs of some of the Oz Ni miners. Looks to be a couple of bucks margin at the moment, with the exception of WSA, which has considerabley lower costs (as reported).

Laterites must be doing it tough....heard today that the cost of acid has gone up considerably. Laterites have never lived up to expectations, and I think they would be the first to fall.

[STRAT]

You have been goin over a few long term charts tonight AA.

Some nasty storm clouds on the horison eh?