Resource News


Sundance Resources hopes to become a world-class iron ore producer, while Mincor is producing nickel at two mines in Western Australia.

For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
The Investing News Network is thus profiling companies on the S&P/ASX 300 Metal & Mining index. This week’s companies are Sundance Resources (ASX:SDL) and Mincor Resources (ASX:MCR).
Sundance Resources’ goal is to become a world-class iron ore producer, and it’s pursuing that goal by developing the Mbalam-Nabeba iron ore project, which spans the border between Africa’s Cameroon and Republic of the Congo.
Most recently, the company announced that it’s made “significant progress” in seeking funds for Mbalam-Nabeba, noting that Cameroon’s government “has agreed to seek to fund 100% of the capital requirement for rail and port infrastructure in Cameroon.” It plans to do so via a loan with China. Sundance will have nine months to raise money for the project after the government gains infrastructure; ultimately, Sundance will pay a tariff to use the infrastructure.
Nickel miner Mincor Resources operates two mines in Western Australia’s Kambalda Nickel District: Miitel and Mariners. It also has a number of other nickel projects that are in various stages of exploration and development. The company has no debt, and according to its website has “paid regular fully-franked dividends since 2003.”
Most recently, Mincor released its provisional production results for the 2015 financial year and quarter ended June 30, 2015, commenting that for the quarter it put out 68,646 tonnes of ore at 2.5 percent nickel for 1,713 tonnes of nickel-in-ore. It also achieved its full-year production target of 8,500 tonnes of nickel-in-ore, putting out 8,632 tonnes of nickel contained within 308,964 tonnes at 2.79 percent nickel.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article. 
Related reading: 
ASX Round-Up: Sheffield Resources and CI Resources
ASX Round-Up: An Overview of Kingsrose Mining and Tigers Realm Coal
ASX Round-Up: Spotlight on Elemental Minerals and BC Iron
ASX Round-Up: Poseidon Nickel and Newfield Resources in Focus
ASX Round-Up: A Look at Red 5 and Western Mining Network


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