Base Metals

Mincor Resources NL (ASX:MCR) announced plans to move forward with gold and nickel development opportunities by taking “a two-pronged growth strategy.” The company’s properties are located in Western Australia’s Kambalda district.

Mincor Resources NL (ASX:MCR) announced plans to move forward with gold and nickel development opportunities by taking “a two-pronged growth strategy.” The company’s properties are located in Western Australia’s Kambalda district.
As quoted in the press release:

The essence of the Company’s strategy is to maintain and enhance its option on the nickel price, while moving aggressively to exploit the gold potential of its Kambalda landholdings. The first part of this strategy requires the maintenance of the Company’s existing Kambalda nickel assets while reducing their holding costs to an appropriate level and at the same time enhancing their value – by both expanding the total nickel inventory and further strengthening the economics of the projects.
The core of Mincor’s nickel option has now been cemented following the completion of Definitive Feasibility Studies at Durkin North and Miitel, as detailed below. The two studies outline a base production potential from reserves of some 28,200 tonnes of nickel metal.
The Company’s nickel option is further enhanced by the recent discoveries at Voyce and Cassini, the known additional resources at North Kambalda, and the strong potential for new greenfields discoveries in the wider area. In total it is clear that Mincor holds a strong and valuable option on a recovery in the nickel price.
In parallel with the nickel option, Mincor has identified an opportunity for near-term gold production on its tenements. This is based on gold resources that were identified historically but required upgrading to JORC 2012 compliance, as well as other gold prospects where the Company believes that resources can be quickly and cost effectively established.
These provide the potential for a series of shallow, easily-mineable gold pits, which would allow the Company to take advantage of the current high gold price with the added benefit of offering significant resource upside. Initial Scoping Studies have already commenced on two potential gold pits and Mincor will provide regular updates to the market as this work proceeds.

Click here to read the full Mincor Resources NL (ASX:MCR) press release.

Featured

MARKETS

Markets
TSX20491.01+284.60
TSXV712.49+11.95
DOW32654.59+431.17
S&P 5004088.85+80.84
NASD11984.52+321.73
ASX7112.50+19.50

COMMODITIES

Commodities
Gold1815.67+1.09
Silver21.630.00
Copper4.21-0.03
Palladium2080.50+35.50
Platinum963.50+12.50
Oil114.26+1.86
Heating Oil3.73+0.04
Natural Gas8.21-0.09

DOWNLOAD FREE REPORTS

×