Whilst a capital raising is not ideal and I still thought they could have limped through to positive cash flow this just speeds us up with a bigger picture in mind. The article above is not correct as they have already mined development and first stope from the Northern operations. I was concerned that this quarter and the half year might have upset some and the share price could drift lower. This now draws a line in the sand with increased drilling on two mines and a speedier production horizon. I have always made money on the previous Mincor capital raisings and see the same happening here. Some of you are upset at the price but keep in mind you could have bought at a lower price only weeks ago, me at $1.25, so make the most of your opportunity here. Will I sell and try to buy some back at a lower price, maybe but unlikely. I will however add more either through the SPP or on market as I now see clear blue sky. With inflationary pressures and a shortage of workers etc how much would it take to build a brand new state of the art mine and a mine with access through 2 declines in a high Nickel area being the golden mile. Both of which have huge upside with drill holes of 14% and 17% outside the resource. All are open all over the place so it will be very exciting to start to get drill results earlier. Remember whatever increase in resource they get can be speedily brought to production. I still stand by my previous statements that the Golden Mile will have 200k tons and Cassini 150k tons at least not including Cassini North. What a great time to be ramping up. As for the hedge, I doubt they will pay the full amount or otherwise we could just make them wait two years and give them the Nickel. Giving them money now means they can deploy that and make money on it or not. Drill baby drill!
MCR Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
