Australian (ASX) Stock Market Forum

MCR - Mincor Resources

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Boggo said:
I'm a bit cautious at support levels @aus_trader, initially there needs to be signs of indecision and then I need to see a positive indication of a turnaround and to get that you need to be prepared to give up a few cents (the 61c level on MCR would be my "eyeball" guide - see the TLS thread where there are similarities at support).
As Radge would say "don't be a dick for a tick". Just my :2twocents
Click to expand...

I am out.

I believe there is a good chance of heading back down to the breakout area on the weekly chart above. Another buying opportunity perhaps.
MCR.png
 
MCR Notes:
March 2019 - Nickel offtake agreement with BHP Nickel West for processing of Kambalda nickel ore.
May 2019 acquires Long Nickel Operation from IGO (underground mine)
-Exploration shows more nickel resources (Cassini) and others.

Definitive Feasibility Study on an integrated mine plan late Dec 2019.
[ie not processing any nickel ore yet.]
Gold mining at WGP ceased, minimal income now

Cap raising $23Mill for exploration and drilling activities. feasibility studies, operational readiness, pre-production capital expenditure and working capital.

Principle activity is mineral exploration with very minor ore processing (minimal income).

I'll wait for the DFS and further progress of their nickel production.
I'll also need to see more bullish price action in the charts.
 
Porper said:
Goes without saying.

It then comes down to your time frame and which patterns you believe are stronger.
Click to expand...

Thanks for the comments Porper and I should know better as I've been around long enough.

Probably time I sent that brain chip in for an overhaul....or maybe even exchange it for an updated version.

Cheers,
Rob
 
rnr said:
Thanks for the comments Porper and I should know better as I've been around long enough.

Probably time I sent that brain chip in for an overhaul....or maybe even exchange it for an updated version.

Cheers,
Rob
Click to expand...

We all make mistakes still.

I recently forgot to tighten a protective stop and got walloped following an announcement!!
 
peter2 said:
MCR Notes:
March 2019 - Nickel offtake agreement with BHP Nickel West for processing of Kambalda nickel ore.
May 2019 acquires Long Nickel Operation from IGO (underground mine)
-Exploration shows more nickel resources (Cassini) and others.

Definitive Feasibility Study on an integrated mine plan late Dec 2019.
[ie not processing any nickel ore yet.]
Gold mining at WGP ceased, minimal income now

Cap raising $23Mill for exploration and drilling activities. feasibility studies, operational readiness, pre-production capital expenditure and working capital.

Principle activity is mineral exploration with very minor ore processing (minimal income).

I'll wait for the DFS and further progress of their nickel production.
I'll also need to see more bullish price action in the charts.
Click to expand...
That could have been a very prudent post Peter, the DFS has been put back to the March quarter, while they keep looking for resources.
The cash burn continues.:(
 
I have picked MCR for the November stock picking contest based on continuing improvement of fundamentals in the nickel market as Tsingshan continues to empty the LME warehouse to use the purchased nickel to supplement stainless steel production in 2020 because of tightness in the market, Indonesian politics creating ongoing supply uncertainty. From a company point of view I am attracted to their Cassini discovery, it appears high grade and open for extension with more drilling, they could also start generating drill results soon from their exploration at the Long nickel mine acquired from IGO earlier this year
 
The cash burn should be over, the mining should proceed and the money should flow in 2020. The infrastructure is in place, the workforce housing isn't an issue and an off take contract is signed.
The ducks should line up for Mincor in 2020 and they are starting from a low share price base.
If nickel demand holds up, so should the price and there is always the possibility of a bigger player taking over.
 
MCR my top pick in the CY20 stock picking competition, in trading halt first trading day of CY20, pending some material exploration result at the Cassini project
 
Padowan said:
MCR my top pick in the CY20 stock picking competition, in trading halt first trading day of CY20, pending some material exploration result at the Cassini project
Click to expand...
I rekon it's going to be a good year for nickel and copper and we could see some takeover action in this space too (IGO's unsolicited bid for PAN was the warm up act I reckon). I chose ARL and SGQ as more speckie nickel stocks but hold some MCR. Good luck in the tipping comp.
 
I hope 2020 is their year, i've held them for a long time and just started to accumulate more last year. I purchased cleanaway (CWY) at $1.70 and will look to parlay that into MCR if the announcement is favourable. good luck in the comp Padowan
 
Today’s release from MCR didn’t disappoint in my mind, a solid drill result showing clear upside at the Cassini project, although the stock traded up 8% over the day, I can’t help but feel this was subdued given trump seems to have moved from one war to another, from a trade war with China to conflict with Iran.

upload_2020-1-6_22-51-1.jpeg
 
I have let it go along with the rest of the stocks during the portfolio liquidation as documented in the Speculative Stock Portfolio. When the market settles down, looking to buy back some stocks to re-populate the spec portfolio and MCR will certainly be in the watchlist.
 
Capital raise. SPP. It's all good. I'm going to participate fully in the SPP.

My internal dialogue is whether, after going long gold miners, whether I should be more bullish on copper or nickel. I reckon for a good night's sleep you can't go past copper right? Nickel -- ooh, ooh, EV batteries, have you seen the goth that Elon's breading with? I'm bullish Nickel but it's going to be a bumpy ride because nicke is highly cyclical already for stainless steel and battery use is going to be rather small in comparison to use in stainless steel production.

What I like about MCR. They are near term - ramping up and recommencing mining as I type. Offtake agreement with BHP. BHP looking to expand further into Nickel production.

What I don't like about MCR. IGO are a significant holder. Are they a well managed operation? I don't research anywhere as much as I should. I traded IGO last year and scratched my arse thinking about them at the time. I can't remember why but I wan't impressed. If I recall, it was their attempt at a bit of a raid at Panoramic Resources (PAN) which WSA (which I also hold) have done a much better job of accumulating an interest in.

In any case, consolidation is happening in the nickel space. OZL buying out junior partner CZI in the remote West Musgrave project is one example.

When I bought MCR I liked it on fundamentals, I liked it on sector sentiment and I liked it on the chart. I still like it on those three fronts.

No worries!
 
tinhat said:
Capital raise. SPP. It's all good. I'm going to participate fully in the SPP.

My internal dialogue is whether, after going long gold miners, whether I should be more bullish on copper or nickel. I reckon for a good night's sleep you can't go past copper right? Nickel -- ooh, ooh, EV batteries, have you seen the goth that Elon's breading with? I'm bullish Nickel but it's going to be a bumpy ride because nicke is highly cyclical already for stainless steel and battery use is going to be rather small in comparison to use in stainless steel production.

What I like about MCR. They are near term - ramping up and recommencing mining as I type. Offtake agreement with BHP. BHP looking to expand further into Nickel production.

What I don't like about MCR. IGO are a significant holder. Are they a well managed operation? I don't research anywhere as much as I should. I traded IGO last year and scratched my arse thinking about them at the time. I can't remember why but I wan't impressed. If I recall, it was their attempt at a bit of a raid at Panoramic Resources (PAN) which WSA (which I also hold) have done a much better job of accumulating an interest in.

In any case, consolidation is happening in the nickel space. OZL buying out junior partner CZI in the remote West Musgrave project is one example.

When I bought MCR I liked it on fundamentals, I liked it on sector sentiment and I liked it on the chart. I still like it on those three fronts.

No worries!
Click to expand...
IGO are a class act, from what I have heard, run a tight ship all the tees crossed and the i's dotted.
I hold MCR and as you will be taking up the offer.
Don't hold pan and not interested, way too many problems at Savannah for my tastes.
 

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