I think UBS or the likes have been trading and getting a larger position as it moves between $1.75 and $2. This has been going on for a while. The shorts as at the end of September were at .72% according to Shortman which is high for Mincor but this has also been up and down like a yo-yo. I like this presentation and all things seem on track with ramp up. They will soon release some updated reserve/resource numbers which look like they will be good. I am on the record for saying the golden mile will have at least 200k tons and Cassini 150k. Whilst they won't know yet getting to 16k tons run rate buy the end of June2023 should enable them to plan for larger production the year after. After all they so many places to mine.
Happy to be a buyer today as I freed up cash on some coal.
Drill baby drill!
MCR Price at posting:
$1.76 Sentiment: Buy Disclosure: Held
