Hi everyone,Do not get fooled by the lower Nickel price and...

Hi everyone,

Do not get fooled by the lower Nickel price and thinking that MCR is overvalued.

You will be pleasantly suprised by the following figures:

Nickel price US$15/lb
production cost US$5/lb
Nickel productin 19000 t/pa

70% smelter cost gives us 13300 t free nickel
13300 t/Ni x US$22000 = Us$292 million
tax 30% = US$204 million
EPS = US$1
PE of say 7 = US$7 per share

Not bad at all with a nickel price of US$15 !!!!!!!

So instead of thinking MCR is a SELL at todays Nickel prices , you are wrong because MCR is a STRONG BUY imho.

good luck and do your own research.

jojo