nickel up 4.5% on friday, page-6

I haven't seen any clear set of criteria for MCR to assess whether or not to reopen Miitel so its really hard to guess when it might be.

The last set of drill results I thought would increase the chances of Miitel opening. The higher grades should reduce the overall costs of producing from Miitel and help keep things going if the price of Ni came back a bit. Part of the SP rise since the announcement probably reflects a greater possibility of Miitel reopening (in addition to the rise in Ni).

Came across this this morning at Minesite (from 24 March):

'For Mincor the news from Miitel was that drilling to the south has returned a best hit of 10.15 metres, or 5.82 metres true width, assaying 2.94% nickel, while to the north the best hit was a new discovery measuring 4.78 metres (2.74 metres true width) at 4.86% nickel. Those two intersections mean that Miitel might be taken out of mothballs earlier than had been planned, for the simple reason that it is looking too good to be kept off line for much longer. Mincor chief executive David Moore described the drill results as a breakthrough. We believe these are very significant results and really open up the whole exploration story at Miitel, he said. We now see strong potential confirmed at both the northern and southern ends of the prolific Miitel ore system, and we intend to mobilise substantial resources to realise this potential over the next few months, he added '