looking the gift horse in the mouth

Mincor has generated earnings of $16m for the half year but that's before the substantial write-offs for depreciation and amortisation( amortisation of what I wonder?).
Nickel can fall to US$6 per pound before they have to seriously worry about interrupting production. But at that nickel price there will be a queue of worthy nickel producers ( say Western Areas ) with lower cash costs awaiting investment of their substantial cash pile .

MD however talks about the new path of growth and diversification into PNG riches he might mean but I suspect that riches are aplenty at the 4 existing mines.

Either way the cash pile, the net tangible assets at 82 cents per share will act as a brake on any serious share price falls from here.

Then of course Nickel price might keep rising.

I am just hoping that the archly conservative board hew to their evident intention to not make any fresh issues of capital.It makes MCR a really safe , long term investment.