Ann: Mincor commences pre-production activities at Widgiemooltha, page-27

if one were to think logically abt what Ni-W is doing - they see that there is inc demand for Ni-sulp, and that one can produce this from metal grade Ni .......

this means that for every T of metal that Ni-W buys, they can inc their net margin ..........

this "margin" can be "shared" with conc suppliers, or they can try and keep it all themselves ........

I suspect that they want "surety" of volumes over the next 5+ yrs .........

I rekon (imho) this is why MCR is drilling Cass, even thou it is 2+ yrs away from potential production .........

this suggests that MCR and Ni-W will do a offtake deal in due course .........

given the expected margin uplift - one would think that sharing upside would be appropriate (my "guess" is 70-70% of contained Ni value, compared w - 65% .....)

all in all - I would think that would be +ve for MCR (in due course).....

long ways to go thou !

rgds
V_H