Mincor Resources N.L. WKN 256 332 AU000000MCR8 MCR

Mincor revels in the highs of nickel price records with huge profit increase
http://www.mineweb.net/base_metals/632754.htm

New acquisitions to elevate Mincor’s nickel output
http://www.mineweb.com/mineweb…age31?oid=16389&sn=Detail

Mincor Resources NL, now the leading nickel miner in the Kambalda region of Western Australia, is expecting to lift its group annual production of contained nickel in fiscal 2008/09 to 20,000 tonnes.

Current group production is about 13,500tcontained nickel from ore delivered to BHP Billiton's Kambalda concentrator.
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Mincor Resources eyes fifth nickel mine
Thursday March 29, 2007, 5:10 pm

Nickel miner Mincor Resources NL is on track for the development of its fifth nickel mine in Western Australia after delineating an initial resource at its Carnilya Hill project.

Mincor has firmed up an initial resource of 16,100 tonnes of contained nickel at Carnilya Hill, which is located about 25 kilometres north-east of Kambalda.

The nickel miner said feasibility studies were progressing rapidly and a development decision would be made before the end of June.

Mincor operates four nickel mines in the Kambalda region and produces about 15,000 tonnes of nickel annually.
http://au.biz.yahoo.com/070329/30/162zk.html

Managing Director Moore: “At this stage, it looks highly likely that Carnilya Hill will be Mincor’s fifth mine in the Kambalda District,” he said. “As with all our other mines, we expect that the initial mineral resource will grow very substantially over time.”

MCR hat 70%igen Carnilya Anteil, Ressource also ca. 11.300t.

Recht nett, die neueste Paterson Studie auf MCR´s Webseite.
WA´s cheapest nickel sulphide miner
http://www.mincor.com.au/images/mincor-47--jahgh.pdf

MCR:
MCR remains on track to produce 9kt of payable nickel for FY07 from its 4 producing mines and with the bolt on production of 1.4kt from Carnilya Hill and 0.3kt from North Dordie, we forecast FY08 to come in around 10.7kt from six operations. MCR has 33% (2,982t) of FY07, 22% (2,394t) of FY08 and 5% (600t) of FY09 production hedged.

SMY:
SMY´s payable production of 8.7kt for FY07, from Sally Malay and Lanfranchi, will increase to 11.3kt as the Winner and later Deacon orebodies are brought on line at the Lanfranchi operations. SMY has 53% (4,494t) of FY07 and 19% (2,100t) of FY08 production hedged and 100% of FY09 production is unhedged.

MCR is trading on 5.2 times FY07 and 3.5 times FY08 earnings

Stellar run continues for Kambalda nickel miners

Nickel miners and explorers, reviving the Kambalda area projects, are reporting good results due to strong metal prices.
Author: Ross Louthean
Posted: Wednesday , 25 Apr 2007

PERTH -

Western Australia's Mincor Resources NL's March quarter report today reflected the same level of buoyancy as fellow Kambalda region nickel miner Independence Group NL showed yesterday when it reported a record three months' net profit after taxation of $A41.7 million ($US34.44 M).

The Mincor report not only detailed a strong operating surplus of $A36.7 M ($US30.31 M), despite reduced production, but also a bold new hedging programme for a total of 4,026 tonnes of payable nickel metal to April 2009 at an average price of $A24,242/t ($US20,023/t). This represents less than 27% of Mincor's expanded production over that period.

It is also a price that would have made any nickel mine manager in the Kambalda region over the past 30 years green with envy, given that they were often saddled with a flat nickel price below $US2/lb.

Mincor's share price warmed to the news, as did Indepencence's price yesterday that rose $A0.70 the previous day to $A6.80/share ($US5.61/share), though it softened A14¢ at the close of trade today through a high turnover.

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Mincor said today its current cash and receivables net of creditors and accruals, stands at $A107.4 M ($US88.7 M) with no debt. Its March quarter result took in an additional $A20 M ($US16.5 M) revenue recognised for the December quarter, based on final nickel settlement prices.

The nickel price has been good to Australian nickel miners in the March quarter rising to record levels
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http://www.mineweb.com/mineweb…age36?oid=20042&sn=Detail

Mincors 1.Q07
- starkes Ergebnis trotz gefallener Produktion
- neue Hedges für über 20.000 USD/t ( über 9 USD/lb) bis April 2009, Hedges machen insgesamt 27% der Produktion aus.
- Nettocashposition: satte 88 Mio USD bei 0 Schulden

McMahon Nickel Mine soll in Betrieb gehen und ab dem nächsten Geschäftsjahr 08/09 jährlich 2500-3000 t Nickel liefern.

Zusammen mit dem bereits in Entwicklung befindlichen Carnilya Hill, dort beginnt der Betrieb Jan. 08, wird der Jahresoutput auf über 20.000t steigen.

Reserven: 322,340 tonnes @ 2.4% nickel for 7,730 tonnes of nickel metal.
Cash Cost 5,5 A$
IRR über 80!

The estimated capital cost of $23 million will be funded from Mincor’s internal cash resources.

Mincor Looks Well Set To Ride Out The Current Weakness In The Nickel Price
http://www.minesite.com/nc/min…n-the-nickel-price/1.html
(Registrierungspflichtig)
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The most important result of trimming Mincor
to fit tougher times is that all the operations are cash positive, even
if they’re not profitable in a strict accounting sense. The cash cost
per pound of nickel has been reduced to around US$2.80, which, at the
current price for the metal means the company is still generating
positive cashflows of between A$2 million and A$5 million a month.
“There’s no denying how tough conditions have been,” Moore says. “But
we have also been able to maintain a very robust financial position in
the depths of a downturn, which means we are exceptionally well placed
for any upturn. Right now, we’re in a very solid position.”

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