It would interesting to know what AUD/US exchange rate this valuation was based on. Most of the recent ones I've read use a rate of 0.75. As I understand it, Mincor's being paid in US$. Based on the current approx nickel price of US$15k/t, a drop in the US$ from 0.75 to 0.74 is worth an extra ~AUD$270/t to Mincor , or $3.5m based on annual production of 13ktpa, or worth almost 2c to sp. The current exchange rate is around 0.74, and looks more like falling further then rising.
I'm happy to hold and buy more mcr around 68.
MCR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
