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MCR - Mincor Resources

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Porkpie
Not sure that there were an abundant amount of sellers here - close was right at the top today on nice volume. In fact, IMO I see a lot of buyers here. MCR has recovered nicely from the dip in early Jan and is tantalizingly close to breaking that important 2.30 barrier. Will it happen tomorrow - we will just have to wait and see but I think this one is setting itself up for it's next move. Nickel is the one metal I believe that still has more in it and MCR is a good way to get exposure to it. Plus, have a look at Nickel's price per pound chart - broken out nicely of late. + Factor in the positive exchange rate movement in Aus - US for the Company. Not much to complain about here! Best of luck to all holders!

Cheers
 
The 1yr Nickel spot chart tells a tale...the breakout is clearly apparent.
 

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reece55 said:
Plus, have a look at Nickel's price per pound chart - broken out nicely of late. + Factor in the positive exchange rate movement in Aus - US for the Company. Not much to complain about here! Best of luck to all holders!
Click to expand...

Doesn't a strong AUD/USD exchange rate disadvantage MCR? If AUD strengthens then their relative AUD profit shrinks.
 
HAHAHA....... ignore me..........

You are on the mark here asxgorilla - I obviously haven't taken my pills this morning!!!

Thanks for posting the Nickel chart - can someone pm me on how to display charts?

Cheers
 
What I do like here is that Nickel has broken out inspite of USD strength. As Nickel is priced in USD (like most metals) a strengthening of the USD usually sees commidities fall to keep their prices relative in USD terms, just as we've seen in the last couple of months.
 
What the hell are you talking about? MCR went up another 4c in the last 30 mins of trade today that I wasn't watching, and closed on the high. And for the last week and a half, it hasn't gone below its opening price and done very similar things as it did today. (It would be a day traders dream being on this stock lately.) These are pretty strong signs to me. Along with the gradual increase in volume towards resistance, while still strongly climbing. It's almost a classic textbook pre-breakout situation. And now that SMY has broken out, everyone will be all over the nicklers.

Anyway, I'm popping my cherry with a faux analysis on this thread. Be kind.



Momentum has been building, and very similar to the momentum before its last breakout. If we can get a continuation of the positive trend on the MACD, it may well breakout again. Anyway, hope that chart helps.
 
And a gap up on the opening this morning. Even though my information seems a bit scratchy, it looks good. Watch out!
 
Nice solid breakout this morning.... at 2.47 as we speak, up 8% today.......

Good time to be long in this one....... All the best to holders, with Nickel rising the way it is this stock is primed to soar..... I see 2.50 as the next step to overcome, hopefully it will break today...

Cheers
 
Dear Choppy, you don't have to listen to me, infact just as well you did'nt I was only posting as I have been reading the quotes, yes in hindsight I should have held another couple of days, but I chose to close my cfd positions last Friday for some very healthy prophets, also did the same with SMY but I'm holding IGO( I think these will go a bit higher yet). I am well aware of the technicals and will now wait for a pullback. BTW I still hold some physical shares. porkpie
 
I just don't understand why you would be closing positions on any in nickel right now. Ah well, as long as it met your targets, that's all that matters.
 
I was looking at this on the weekend... I had previously looked at getting in back in August, but chose MRE instead... looks like I should have chosen both!!

Anyone know roughly what price nickel concentrate gets?? I'm assuming quite a lot lower than nickel metal... based on their 1st quarter report it would seem to be a bit less than $20,000 AU / tonne, though that includes their hedging..... Wanted to try and do a profit forecast, but a bit hard without knowing what they are receiving (for the non hedged production), including cobalt and copper credits...

Tony.
 
reece55 said:
N
Good time to be long in this one....... All the best to holders, with Nickel rising the way it is this stock is primed to soar..... I see 2.50 as the next step to overcome, hopefully it will break today...

Cheers
Click to expand...

2.50 has now broken. Lets see where it will end up!
 
OK found my answer

from the chairmans address to shareholders...

Mincor receives 65% of the metal value from our processing
arrangements with BHP Billiton, who provide an essential service in
concentrating and smelting our ore.

Time to do some calculations

Tony.
 


Yep you should have waited a bit longer Porky with MCR and SMY, IGO are still lagging and have slipped under the markets radar ATM
 
I looked at a similar thing a while back that I posted earlier:

"RE: Cobalt Capacity

We make money from Cobalt as a by-product recovered from our nickel mining operations. As such we do get the benefit of any price increases in Cobalt. The total value of by-product copper and cobalt together is about 3% of our revenue."

Hope that helps also.
 
Gapped up another 15c on the open. Any guesses where this is likely to stop?
 
chops_a_must said:
Gapped up another 15c on the open. Any guesses where this is likely to stop?
Click to expand...

The ferocity of the buying is starting to suggest takeover to me.
 
not looking like my bid in at 2.31 is going to be filled.... thought I'd try the "all gaps must be filled" approach... takeover is possible I guess.... could also be that people are waking up to what sort of profits they are making with current nickel prices... I don't know why it is that whenever I've decided yes I want to buy this, it shoots up just before I get the chance... grumble grumble... then again the market in general has been very up lately, could be due for a few bad days at which point my order may get filled... one can hope

Tony.
 
wintermute said:
not looking like my bid in at 2.31 is going to be filled....
Click to expand...
Lol!

Looking at the chart, if it does fall, 2.50 might be a better bet. Did you end up getting a profit forecast by any chance?
theasxgorilla
The ferocity of the buying is starting to suggest takeover to me.
Click to expand...
Well, they do have agreements with BHP, and BHP would probably do anything at the moment to lift their flagging SP. Haven't seen them talk about putting themselves in a takeover position, but anything is possible I guess.
 
I came up with a rough figure which made me decide I wanted to buy... I should do a proper one as now I can't remember what that figure was.. I have a scrap of paper with some figures on it, but not sure whats what LOL... I think I came up with somewhat higher (only a few cents) than the EPS the analysts are forecasting.... One variable I don't know yet is the mine life!! if it is short then that could be a reason for the low p/e ratio...

I'll do it again, and this time I'll record all the details properly! but I won't necessarily release the info till I have my parcel

Tony.
 
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