Up, IMO, MCR is not getting the recognition like other NI companies is because of the strategy DM has adopted. Unlike other companies, MCR has not gone out to determine the true extent of its NI resources. For several reasons: The ground is so good that you can replace the mined ore without too much exploration. To establish a big reserve is costly.
I listened to the recent radio broadcast, and DM said that MCR found an ore body called 09, which is bigger that the combined ore body mined in 07 and now mining in 08. Just happens to find another ore body after one is drilled out. Just happens!
If you are an investor, I think (DYOR), at the moment, MCR gives a better dividend yield than SMY.
What I am really interested is the U potential in Gascoyne. Listen to the broadcast carefully regarding the size. Did he not say 2km by 2km and open in some( not sure where) direction. The readings they took were very good. Just do a quick calculation: 2000m strike x 2000m width x 25m deep (guess) x 3.5SG x 200ppm (at least) x 2204.602 (to lbs)= 154mlbs (about the size of Ranger mine, DYOR). Happy to be corrected on this calculation.
MCR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
