QUARTERLY REPORT – 30 JUNE 2007
Highlights of the report are noted below:
Mincor achieves full-year production targets with 12,927 tonnes nickel-in-concentrate produced and sold – announces 28% increase in forecast production for new financial year
· Mincor enters S&P/ASX 200 Index – ends financial year as top performing company in the Index
· Mincor concludes landmark deal to acquire Otter Juan nickel mine
· $68.5 million GMM acquisition (including Otter Juan, McMahon and Durkin) completed 2 July
· Carnilya Hill nickel project given go-ahead with production to commence January 2008
· Continued exploration success with Mariners 09 and North Miitel extensions emerging as significant new discoveries
· $13 million additional revenue recognised for March quarter based on final nickel settlement prices
· Outstanding June quarterly operating surplus of $44.9 million. Estimated operating surplus for 2006/07 financial year of $192.5 million (FY2005/06: $69.3 million)
· Current cash and receivables net of creditors and accruals stands at $77.38 million after settlement of the GMM acquisition
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- good 4qtr report out
good 4qtr report out, page-2
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