Mincor Provides Half-year Results

Australian nickel miner Mincor Resources NL (ASX:MCR) announced its half-year results, beating its production and cost guidance for the half year to December 2014. The company has maintained its track record of dividends and continues to fund its organic growth strategy.

As quoted in the press release:

The result was underpinned by another robust operating performance, with production of 4,986 tonnes of nickel-in-ore at cash costs of A$5.00 per pound payable nickel. This was achieved from production of 162,216 tonnes of ore at an average nickel grade of 3.07% (1HFY14: 169,971 tonnes of ore grading 3.31% nickel for 5,618 tonnes of nickel-in-ore).

Commenting on the first-half results, Mincor Managing Director David Moore said:

Our operating team has again delivered a solid production performance at very competitive costs, with the small half-year loss including some fairly significant non-cash items. This was against the backdrop of a nickel price which, through the half-year, probably did not live up to earlier expectations.

Click here for the full Mincor Resources NL (ASX:MCR) press release