75 million in the bank. no debt!, page-3

WSA's costs are on the rise, due to the open pit shutting. Also the underground mines are very vertical and the workings are getting deeper.
Expect costs to rise, also they pay interest on debt. About 250 million of it.

Mincor on the other hand has cash costs falling, exceptional high grade nickel intercepts, which will maintain lower costs.
No debt.
4.12 million spent in the quarter buying back cheap shares, a smart investment. Most other companies would be rushing out to buy a lemon instead.

We also have David Moore at the helm, a very astute operator.
The hint I was implying is, Mincor will float a new company in Papua New Guina, if the drilling proves good and from what I have read, it should.
This is where Mike has the smarts, takes all the risk out of Mincor having to expand.

If the nickel price improves, Mincor will fly. I'm betting it will. In the mean time, this is a low risk investment.

At the moment I'm happy to hold EL. Can you name a company that has it better, I'd be very interested.

Cheers