Ann: Mincor Advances Gold Strategy-MCR.AX, page-6

While gold is performing well and positively impacting on Mincor, Nickel is beginning to emerge from its slumber.

LME nickle stocks reached a peak around June 2015 of 470.000 tonnes , and have now fallen to 397,000 tonnes. This appears to be a permanent trend and I am expecting it to fall to 350,000 tonnes by the end of the next 3 months.

The nickel price is yet to be impacted by the reduction of these volumes of stocks and probably will not in the short term, but eventually history tells us it will.