pattersons raise target to 4.30

Was reading through patterson's latest review of the suplhide Nickel miner's and noticed they have bumped up their target to $4.30/sh from about $3.80/sh form memory.

"Mincor Resources NL ($3.79) . BUY
MCR does have the shortest mine life of its competitors however given its proven history as
both an operator and an explorer, this discount is often overdone given the strength of its
short term earnings. Given its dominant holding in the rich Kambalda region and active
exploration program we have confidence of further discoveries steadily adding resources,
ensuring MCR.s stated goal of 20 years @ 20ktpa Ni. MCR is trading on 5.5 times FY09
earning and a 4.2% fully franked yield. Our price target is $4.30/sh."

Notice the stock is being discounted due to a percieved short mine life. David Moore doesn't seem to subscribe to this given our 20/20 target. As MCR increases it's reserved it should get rerated and recieve a jump in sp.

Full report is dated 6/5/08 and can be found here:

http://www.minesite.com/investors/brokers_notes.html