re: Ann: NIU: Mincor Resources NL May River a... - Decreased costs which preserves the margin - No injury - New projects in Oz
The lasts reports show what they did in PNG and - unfortunately - the results show it's more prudent to stop. Would you have expected the board to continue in a high gamble?
I would say they made the right decision based on the exploration results.
About Ni, my only worry is that they are mining deeper and deeper and wonder if the risks aren't increasing too much and how much further they can decrease costs.
That said AFAIK the actual Ni price is too low for several producers so I expect that some will stop producing. This should begin to have an impact. The only question is when.
MCR Price at posting:
55.5¢ Sentiment: LT Buy Disclosure: Held
