MCR - Mincor Resources

[Sean K]

Why do IGO hold over 7% of MCR? Is this a legacy of WSA takeover, or something else? Links with BHP Kalgoorlie - Kwinana? Takeover?

 

[rcw1]

Why do IGO hold over 7% of MCR? Is this a legacy of WSA takeover, or something else? Links with BHP Kalgoorlie - Kwinana? Takeover?

View attachment 151616

Good morning Sean K
Western Areas Ltd disclosed within listed investments (e) p 59 to shareholders that it owned a 19.9% stake in Panoramic Resources Limited and a 6.3% stake in Metal Hawk Limited. No mention of MCR.

Have a very nice day today.

Kind regards
rcw1

 

[Sean K]

Good morning Sean K
Western Areas Ltd disclosed within listed investments (e) p 59 to shareholders that it owned a 19.9% stake in Panoramic Resources Limited and a 6.3% stake in Metal Hawk Limited. No mention of MCR.

Have a very nice day today.

Kind regards
rcw1

I'm sensing more consolidation in the nickel space in WA in the coming year or so. BHP could easily just wrap all these things up and turn WA into a giant vertically integrated nickel processing facility.

 

[sptrawler]

I'm expecting an announcement that Cassini has moved to the production stage and MCR start making deliveries to Nickel West.
Well that's my hope, what actually happens, may be a very disappointed Homer.

 

[frugal.rock]

Any news on the above Homer?
Haven't been following much of late except for a few charts.

For mine, anything under a buck fiddy for Mincor feels like a reasonable price.
Have entered today ($1.438639) and will probably look to add more in future.
My thinking is long term, however, I have matured to understand that the market dictates it's own terms.
@peter2 thanks for pointing out about in nickel thread.

Nickel price also near the lower end of current range.

 

[sptrawler]

Any news on the above Homer?
Haven't been following much of late except for a few charts.

For mine, anything under a buck fiddy for Mincor feels like a reasonable price.
Have entered today ($1.438639) and will probably look to add more in future.
My thinking is long term, however, I have matured to understand that the market dictates it's own terms.
@peter2 thanks for pointing out about in nickel thread.

Yes, I'm with you, all quiet on the MCR front.
My guess is slow going due to labour constraints, getting workers out bush is getting harder and harder.
Hopefully they give an update soon, info has been very sluggish since David Southam stood down as CEO.
The new CEO Gabrielle Iwanow doesn't appear to be much of a talker, maybe when she does it will be good news, I certainly hope so.
Also it isn't a good look for those who bought into the capital raising, when the price a couple of months later is languishing around the issue price, I would guess an announcement may be imminent.

I already have a draw full of them, so not adding, but I would be if the draw wasn't full.

But it wouldn't be the first time I've backed a wrong horse, DYOR. ?

 

[arco]

I've had MCR in the past but not holding at present.
Will be keeping an eye on it.

Watch the blue box (weekly Ichimoku supports) for a possible turn.

 

[sptrawler]

I've had MCR in the past but not holding at present.
Will be keeping an eye on it.

Watch the blue box (weekly Ichimoku supports) for a possible turn.

View attachment 153118

Good call arco, ramp up is extremely slow, which is not good, they had better start and move some ore soon. Or the market will really punish them.

 

[mullokintyre]

Good call arco, ramp up is extremely slow, which is not good, they had better start and move some ore soon. Or the market will really punish them.

Reckon that punishment has been metered out already.
Mick

 

[sptrawler]

Twiggy making an opportunistic bid, I wonder if IGO or BHP are interested?

https://www.nasdaq.com/articles/wyloo-metals-offers-to-buy-australias-mincor-resources

March 21 (Reuters) - Australian billionaire Andrew Forrest-backed Wyloo Metals said on Tuesday its unit offered to buy all the shares of nickel miner Mincor Resources MCR.AX it does not already own for an implied equity value of A$750.3 million ($504.05 million).

$1.40/share

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02645969-6A1141733?access_token=83ff96335c2d45a094df02a206a39ff4

 

[divs4ever]

i suspect BHP will take notice because of the Nickel West relationship , but would it inspire a counter-offer ?

 

[Dona Ferentes]

Twiggy making an opportunistic bid, I wonder if IGO or BHP are interested?]

Market thinks so.... TRADING at $1.46

 

[sptrawler]

i suspect BHP will take notice because of the Nickel West relationship , but would it inspire a counter-offer ?

It would make a huge amount of sense, BHP owning the mill and concentrator in town, picking up Mincor basically gives them all the mines in town plus Cassini, it would be back to as it was when WMC owned it back in the 1970's. Vertical integration, I bet they are doing the numbers as we speak.
IMO MCR is definitely in play though, all the hard work has been done.

 

[mullokintyre]

I need 1.62 just to break even.
Mick

 

[divs4ever]

i was quite happy to leave MCR sitting in 'the bottom drawer along with OZL ( as both are 'free-carried' )

looks like that drawer will soon have more room than anticipated

maybe i will deploy the cash outside of the ASX this time '

 

[Sean K]

$750m for 10Kt Ni pa?

CTM is going to produce 20-25Kt pa and is worth $350m.

Admittedly, that is years away, but sheesh.

 

[divs4ever]

I need 1.62 just to break even.
Mick

my av. SP is around 57 cents , but then i have held them for a fair while ( nibbling away in 2011 , 2013 , and 2015 and recovering the investment cash in 2021 @ $1.35

but good luck

the chances are all bidders will offer cash ( when a scrip component would have swayed me )

 

[sptrawler]

Here is an article on the offer.

Wyloo Group makes $760m takeover bid for Mincor Resources

Billionaire Andrew Forrest’s Wyloo Group has made a $760 million on-market takeover bid for the remaining shares in Mincor Resources (ASX: MCR) which it

smallcaps.com.au

 

[divs4ever]

is currently in some sort of trading pause

more news coming or a late speeding ticket ??

 

[frugal.rock]

I need 1.62 just to break even.
Mick

I'm out today... with, would you believe, a tiny profit.?