undervalue, page-3

it looks very cheap On the basis of following reports from the last report. Nickel price is well above 7 dollars and their exploring cost is under 4 0r 5 dollars.

1. Cash on hand at June 30 was $127.2m.
2. Cash on hand at 30 September 2009 $202.1 million (due to improved Nickel and Cobalt price Plus cut in administration cost).
3. The company remains debt-free with a strong balance sheet.
4. Minara is well-positioned to capitalize on the nickel market recovery
5. Improved nickel price
6. Increased metal production
7. Record quarterly cobalt production
8. Mine production remained steady for the quarter and achieved the target set in the mining schedule.
9. Mine production scheduled to increase in the December quarter 2010.
10. Minara production forecast guidance for Murrin Murrin for the year remains unchanged at 30000 to 34000 tones.
11. Minara sales position remains UN Hedged in both currency and price.
12. In June quarter the Revenue fell 34pc to $190.1m from $289.4m due to weak nickel and cobalt price plus administration cost which has improved significantly in the last 3 months and keep improving.
13. They have more projects to kicks in, for detail read company last few announcements and website,
14. MRE in a Very Strong position with improved commodities price and lot’s of cash in Hand

Good Luck all with your Trading.