MCR 0.52% 96.5¢ mincor resources nl

Well what a doosey! 98c to 16c headed to 10c at this rate, lucky...

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  1. 3,322 Posts.
    Well what a doosey!
    98c to 16c headed to 10c at this rate, lucky I sold out before this crackdown.

    They told you all in Nov at 27c-30c that they would C&M if the NP didn't improve and it hasn't.

    With COP at 5.40ish and NP at 3.90 and stayed there for 2 months now it cannot continue loss producing.

    Luckily my main Ni plays POS & MBN took drastic warranted steps in Jan 2015 to August 2015 and have saved $100M each in cashburn unlike MCR PAN BHP FQM. These steps were laughed at by many but were wise and well ahead of their time, they both smelt the rat and took decisive steps.

    Look how POS SP went up today and even MBN has held 70% higher than PAN whilst in a trading halt and VA since August.

    Soon BHPs Nickelwest will shutter down as there is no other producer other than WSA that will be tolling with its mills.

    The nuclear winter has arrived, now we can compare assets, milling capacities and grades much better without tinted glasses.

    POS has 2 high grade mines with 12.2% grade at silver swan & 3%-10% grade at Emily Ann with 2 working mills with 3.7MTpa capacity being the 2nd largest Ni milling capacity in Australia. MCR nor PAN have anything near this grade nor their own mills and even IGO/SIR will have 35% of that mill capacity after wasting $400M capex on Nova which may have to shutter as well.

    Now all these Ni miners are under C&M, the quality will be obvious to see, those with their own mills and higher grades with no/low debt & low COP like MCR POS MBN WSA will survive and prosper.

    PAN BHP FQM ValeNickel Chinese NPI not so, likely to stay shut.
    MCRs problem is if BHP shutters who will mill its ore? POS?

    There was a reason why Stevenson picked WSA & POS as his best 2 Ni picks.
 
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