first quarter result, page-10

re: do not get fooled by this Hi mookie

I actually sold my VRE holdings and bought more shares in MCR as I believe that Mincor is very much undervalued and is a producer at the moment so it will be able to make the most of the current high nickel price.

Compared with VRE I believe MCR is a much safer bet with proven managment who have done very well for their shareholders so far and is paying good dividends.

VRE has the bronzewing gold mine but its going to be a high cost producer. Still risky even now as they have to start up the mining process which can be full of problems and ofcourse the shortage of skilled manpower will make it not easier.
On top of this the mine has a short live span and additional resources need to be found to add to mine live.

Carnilya hill will be an good upside if all goes well but buying into Micor gives you 70% of Carnilya compared with 30% sticking with VRE.

VRE has upside without dispute but I believe Mincor will do even better without all the risk.

Mincor has also added tremendously to their tenements which included 28000 t/Ni in defined resources.
Also the 200 million shares on issue and the $100 million in the bank make Mincor stand out.
So my bet is on Mincor for the moment.

Ofcourse I could be wrong and time will tell If my movement out of VRE and into Mincor has been right.

Good luck

jojo