Hi everyone,We got something to look forward to with Mincors...

Hi everyone,

We got something to look forward to with Mincors third Qtr results.

The Second Qtr results gave us $43 million profit with a Ni price of US$15

The Third Qtr results will give us probably close to $50 million profit with a Ni price of US$19

Cash in the bank will be more then $100 million after this Qtr or about 50 cts/share

With a Nickel price staying around the $15/lb for the rest of the year Mincor would make at least $40 million profit for the next 3 Qtrs.

This would be for the full year 2007, $170 million profit.
Not unrealistic, and probably conservative, if we think about the increased Ni production coming from Dordie and Carnilya hill and an average price used of $15 for Ni.

The full year of 2007 would give us an EPS of around 85 cts (using 200 mil shares)

And keep in mind we would still have at least $100 million in the bank.

Although these are all rough numbers , it shows me that Mincor has at least $4 written all over it.

With the right exploration results and the production of Carnilya hill we should be able to maintain this upside momentum.

The Nickel price in 2008 is a guess and I have kept away from it, but believe that we still can expect high prices and believe a price around the US$12 would be reasonable.

All depends on the growth story of China and the worlds economies and ofcourse how many of the new projects are going into succesfull production.

So my outlook for MCR is as follows $4 per share a sure thing in the very near future.

A higher price then $4 and climbing with the right exploration results and succesfull commisioning of Carnilya hill.

And all of the above can be forgotten if the Nickel price is collapsing on us, but imho this is not going to happen for the next 10 months at least.

Good luck to all holders

jojo