It's an interesting little company isn't it. I think people are...

It's an interesting little company isn't it. I think people are basically valuing Mincor as their mining operations at Kambalda, and forgetting that the company has a lot of cash and is spending 15? Million per year on explorations.

Most start up and growth miners tend to spend the exploration money, find something and start production from there with their SP factoring in their flagship sites.

Mincor started out with a known mine, developed it, became profitable and is on the search now for their big discoveries.
They're not just mining nickel and lookting around town for a bit more of it. Whilst it appears that management is just being conservative and holding 100m of cash with little or no development in increasing the prodcution of their mine (Kambalda), I don't think it's really the case at all. They're off on the other side of Australia digging up some copper and gold.

It's a different play- solid, profitable and then look for the big discoveries, and I don't think people realize it.

Could be wrong :), will wait for the SP to stop it's killer decent and turn around + a discovery announcement or two, then dip my feet in.