mcr twice the company jojo

Hi Jojo,

I took $30 for some of my remaining LIM, although I had plenty of funds for MCR regardless. Can't see it going much higher, but could slip below CAD25 imo if norilsk pull out, as people don"t want to wait for the Swiss cheque.

Many, particularly on the AGM thread, think their nickel stock is special going up around 200% since last sept/oct, but we know most have, and all on the extent of their exposure to unhedged nickel production, as we rightly anticipated at the time. We knew MCR,LIM and AGM should outperform IGO and JBM.

Most have had exploration success also, but only SMY imo has had game changing success (fully reflected in their sp rise imo).

MCR is different imo. In that time CH has transformed from a prospect to a planned mine, and the whole GMM suite of assets added. We go from questions of whether MCR can sustain 13,000 tpa to questions of how soon they can get to 20 to 25 kt pa, and whether they will be able to sustain that for a decade or more. In 12 months MCR will be twice the company it was 12 months ago regardless of the pon. That is not reflected in the sp. Nor is the calibre of management, and their is nothing in it yet for anticipation of their next deal.

That cheap growth makes MCR the type of company to invest in, although I will concede to expecting IGO to leapfrog MCR in value "at some stage".

I believe MCR has at least the OJ rerating relative to peers to go, and then some as resource definition, and reserves come through on the aquired properties. Much better value for money than SMY or WSA imo, both on higher caps, and better value than AGM (I still hold some).

EL