excellent news for view via mincor quarterly

Mincor's quarterly now out reveals excellent news for View Resources. I would expect View's quarterly to be released Thursday or Friday this week now, and am expecting a very good report - both financially, in Gold production volume output, and forward projections from Bronzewing (VRE - 100%). Coupled with this glowing report on the Nickel front at Carnilya Hill and Zone 29 via J/V partner Mincor (MCR - 70%), the road ahead looks solid, strong and highly profitable, with a high likelihood of further upside and increased resource upgrades via the latest strikes from ongoing and further exploration.
Big overseas money now firmly invested in View with the Singapore consortium firmly entrenched as the No. 1 Ticketholder/Shareholder on the Top 20 register. Easy to see why when you fully analyse this stock as all the boxes have been ticked now, and it will be full speed ahead from here on in.
The relevant excerpts referring to View Resources via the Mincor Quarterly are as follows:

• Carnilya Hill nickel project given go-ahead with
production to commence January 2008

Carnilya Hill (Mincor 70%)
During the quarter, the Company and its joint venture partner
took the decision to proceed with the development of a new
mining operation at Carnilya Hill. The new operation will be
based on an initial ore reserve of 483,500 tonnes @ 2.9%
nickel for 14,000 tonnes of contained nickel metal.
Life-of-mine capital costs are estimated at $28 million.
Production is expected to commence in January 2008 and
ramp up to a rate of approximately 15,000 tonnes of ore per
month, or approximately 5,000 tonnes of nickel per annum
(Mincor’s equity share 3,500 tonnes nickel).
By the end of June Mincor had, after a competitive tender
process, awarded the mining contract to RUC Mining
Contractors Pty Ltd. Surface site works commenced during
June, and as at the date of this report Mincor and RUC had
mobilised to site and underground rehabilitation of the
existing decline was well advanced.

Carnilya Hill (Mincor 70%)
Exploration drilling continued in the quarter with the
completion of two diamond drill-holes and a wedge for 2,112 metres.
CMD026 intersected 3.11 metres @ 3.66% nickel, from
698.74 metres down-hole. This includes 0.36 metres @
17.55% nickel from 698.74 metres down-hole, followed by
1.47 metres of weakly mineralised ultramafic rock and then
1.28 metres @ 1.64% nickel from 700.57 metres. All
intersections are close to true width.
The result indicates a major extension to the mineralised
channel structure at Carnilya Hill, with the new intersection
located 280 metres down-plunge of the last substantial
intersection (2.79 metres @ 8.61% nickel in CMD028W1) in
the mineralised channel. Recently completed down-hole
electro-magnetics (DHEM) indicate the presence of a strong
in-hole/off-hole EM anomaly centred below the new
intersection and extending both up-plunge and down-plunge
to the east and west.
A follow-up hole, CMD026W1, is a downward wedge off the
parent hole CMD026 and intersected 0.31 metres @ 6.05%
nickel from 706.82 metres in matrix and stringer sulphides
mineralisation.
Interpretation of the open intersections down-dip of
CMD028W1 and CMD021 indicates the possibility that the
host ultramafic extends beyond the previously interpreted
limits and if so, could link with CMD026 down-plunge.
CMD034 tested this theory and was drilled 115 metres
down-dip of CMD010W1.
While CMD034 did not intersect significant mineralisation, a
DHEM survey identified a moderate to strong off-hole
anomaly up-dip off the target position. The dimensions of
the anomaly extend from the known mineralisation in
CMD010W1 to a point 50 metres above CMD034. The
anomaly is considered an excellent target to extend the
current limit of the resource and will be tested in the future.
The grades intersected in CMD026, and CMD026W1 coupled
with the newly defined DHEM anomalies highlight the very
strong potential for the Carnilya Hill mineralisation to continue
down-plunge to the west.

Zone 29 East (Mincor 70%)
Zone 29 East is part of the Carnilya Hill Joint Venture and lies
adjacent to the Zone 29 ore body that was previously mined
by View Resources Ltd. The current resource at Zone 29 is
61,100 tonnes @ 3% nickel and is based on 28 reverse
circulation and one diamond drill-hole intersections.
A decision was made to conduct a diamond drilling program
to confirm the current Zone 29 resource as well as attempt to
extend the current mineralised trend. Four diamond drillholes
and a pre-collar (CMD029-CMD033) were drilled at
Zone 29 East for a total of 786.7 metres.
CMD030 and CMD031 were drilled within the Zone 29 East
resource and both returned modest intersections. CMD029
and CMD032 were drilled outside the resource, with only
CMD029 returning some encouragement. The drilling has
indicated the plunge the mineralisation may be steeper to the
east and remains open. This steepened trend will be tested
with the diamond tail of the CMD033 pre-collar.
The Zone 29 East resource will be updated with the latest
drill-hole intersections.
TABLE 4: Assay Results for Zone 29 East Drilling
HOLE ID INTERSECTION
From To Interval Ni%
CMD029 112 112.63 0.63 1.34
CMD030 141.8 143.28 1.48 2.08
CMD031 169.82 170.21 0.39 1.09
CMD032 222.8 222.85 0.05 NSA

Cash and Debt
As at 30 June 2007, Mincor had cash and receivables of
$237.98 million and creditors and accruals of $109.85
million, giving a net working capital position of $128.13
million.
During the quarter the Company made an initial payment of
$11.75 million to the shareholders of Goldfields Mine
Management Pty Ltd (GMM) as part of the $68.5 million
acquisition of that company. On 2 July Mincor made a
further payment of $50.75 million to the shareholders of
GMM. After taking account of that payment, Mincor’s net
working capital position on 2 July was $77.38 million. A
further $6 million (the balance of the $68.5 million purchase
price) remains payable subject to the meeting of certain
conditions pertaining to tenement licences.
During the quarter the Company terminated its $10 million
Revolving Facility with CBA.

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