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MCR - Mincor Resources

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yes mcr up today on large vol, last resistance at this level is back in late 2003 early 2004 when mcr made a double top at just over a $1.00, i'm holding quite a few mcr been accumulating for a while, so next few days will be interesting. porkpie
 
mincor again at a d/top of $1.00,then broke thru on above average vol, looks like mcr is being rerated, my patient accumalation paid off. As for a technical top who knows we're in blue sky territory now. porkpie
 
porkpie324 said:
mincor again at a d/top of $1.00,then broke thru on above average vol, looks like mcr is being rerated, my patient accumalation paid off. As for a technical top who knows we're in blue sky territory now. porkpie
Click to expand...

Can it be sustained thats the thing, and also mine life, only 4 yrs left?

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.4 10.4 23.1 10.8
DPS 3.0 4.5 4.5 4.5

thx

MS
 
i think mcr has more than 4yrs mine life up its sleeve, also some good reports this week with a record june production also mcr's relationship with view res. anyway i'm watching mcr carefully at the mo, for possible profit taking (quite large now), then buy in again on any weakness. porkpie
 
me too took some profit today, i have also been trading mcr using cfd's, it seems a lot easier to gauge the market using cfd's for quick trades usually hold from a few hrs to upto 4 days, porkpie
 
michael_selway said:
Can it be sustained thats the thing, and also mine life, only 4 yrs left?

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.4 10.4 23.1 10.8
DPS 3.0 4.5 4.5 4.5

thx

MS
Click to expand...
MS I think commsec 2006 estimate is VERRRYYY conservative.
The half year to Dec EPS was 5c and Nickel has a great run since then, not to mention the sale of Teyhan Copper's residual holding for a few $$$$...

Sold my last little pack of MCR about a month ago in a mad panic when the market was at the worst of it's trough (correction). Think I regret it? :whip
 
Nickle is shining for the rest of year.( maybe 2-4 years）
MCR may be the next KZL or ZFX in base metals.
Any op. ?
 
Lets hope so, i'm a long term fan&holder of mcr, have also been trading mcr using CFD,s , although no open pos at the mo,porkpie
 
Rising nickel output helps Australia's Mincor beat rising costs

Singapore (Platts)--28Aug2006
Strong nickel prices and a solid year of production helped Australia's
Mincor fight off rising costs and deliver record net earnings for the
financial year ended June 30, the Sydney-listed miner said Tuesday.
All four of its Kambalda nickel mines in Western Australia were running
at full capacity by the end of the reporting year, helping Mincor post full
production of 13,500 mt of nickel-in-concentrate--up from 10,000 mt a year
before.
Strong nickel prices boosted the yield from the nickel sold, and Mincor
as a result reported a 44% increase in sales revenue to A$174.6 million ($120
million), up from A$121.2 million a year earlier.
Its EBITDA (earnings before interest, tax, depreciation and amortization)
hit a record A$70.6 million, up from A$46.7 million a year earlier--a result
that was also thanks in part to selling off optional interests in certain
projects and writing off some properties in Tanzania. Before those special
items, EBITDA was up 35% to A$63 million.

TO BRING ONE PROJECT IN HOUSE TO FIGHT OFF RISING COSTS
Mincor said it was keeping a close eye on its rising costs, though, and
would bring at least one project fully in house to govern costs better.
"Mincor remains vigilant on costs, and to this end we have made the decision
to move our Redross Nickel Mine to owner mining," said Mincor managing
director David Moore. "Our mining contractor Barminco has done a fantastic job
there but we feel that the specific requirements of the mine are now more
suited to an owner operation."
Mincor has committed A$8 million to the transition to owner-mining at
Redross, which will take place on 1 October 2006.
Moore said Mincor would make a decision "in the very near term" on
whether or not to go ahead with its South Miitel mine project, near the
Kambalda complex.
 
johnmwu3 said:
Nickle is shining for the rest of year.( maybe 2-4 years）
MCR may be the next KZL or ZFX in base metals.
Any op. ?
Click to expand...

I disagree, i think this year 2006 will be the peak of Nickel, then probably downhill from then on

MCR - Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.4 12.3 22.7 12.1
DPS 3.0 4.5 4.5 4.5

MRE - Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 12.8 36.5 33.2 20.8
DPS 10.0 11.0 10.8 7.0

IGO - Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 19.8 28.2 38.0 32.0
DPS 8.0 7.0 10.0 10.0

SMY - Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 7.3 4.4 18.7 28.7
DPS -- 0.0 0.0 0.0

JBM - Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 80.1 56.4 59.9 67.7
DPS 40.0 34.0 26.5 16.5

thx

MS
 
I came in late on this one, have only bought in the last few weeks.
Happy to be an owner.
I think the key to MCR's success is the effective management of costs, the focus on sustainablitiy through the procurement of new reserves and the debt free status that we/they enjoy.
The market will catch up eventually. I only wish I bought in this time last year.
Nickel prices will fall throughout the end of this year and into next year, however, demand will out-weigh supply again in 2009 pushing the prices up.
 
BAM be careful of analysts forecasts....these analysts said nickel surplus last year...now its in deficit (official figures) so be wary of anyone telling you it will crash....put simply market dynamics have changed...technically nickel shares are strong too.....suggesting nickel is allright for a year or two at least

MCR are lowly capped @ $230M mkt cap. They are diversifying and from that low mkt cap they can grow easily.
 
Bouth this recently at the peak. Cna someone tell me whether to sell and reduce losses.
 
i could'nt seem to find this story on the bloomberg site, any chance of some breif details. porkpie
 
porkpie324 said:
i could'nt seem to find this story on the bloomberg site, any chance of some breif details. porkpie
Click to expand...
Mincor's Reeve Says Nickel Miner Is Open to Takeover Offers

By Catherine Yang and Tan Hwee Ann

Oct. 11 (Bloomberg) -- Mincor Resources NL, Australia's fourth-largest nickel producer by mine output, said it's open to takeover offers as mining companies worldwide search for more resources to meet surging Chinese demand.

The company hasn't been approached and is focused on exploration to increase resources, Jim Reeve, chief operating officer of Mincor, said in an interview in Sydney.

``Everything is for sale at the right price that gives our shareholders the maximum return,'' said Reeve. An offer ``would have to be a fair way north of the existing share price because we believe we're undervalued and there is a lot more potential in our mines,'' he said.

Prices of nickel, used in batteries and to rust proof steel, have more than doubled this year, reaching the highest in at least 19 years this month as demand exceed supply. Inventories have slumped 89 percent this year amid soaring demand from Chinese steelmakers.

Shares of Mincor have more than doubled this year, compared with a 10 percent rise in the benchmark S&P/ASX Index. Mincor closed at A$1.40 Oct. 10.

To contact the reporter on this story: Tan Hwee Ann in Melbourne at hatan@bloomberg.net
 
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