I’m by no means a nickel expert, hence not an MCR pro. I agree with you numbers and I know that the company says that 11% of this year’s expected shipments are pre-sold at that A$32K odd. So they locked-in both the sale and currency sides similtainiusly to get that. I assume the rest (89%) floats at the prevailing offer available after processing.
But look, I urge you to e-mail any questions like that, to the company, or indeed phone them. I have found them very willing to work with shareholders.
Another big plus to me, is that MCR really seems to know their real costs. So many other miners seem to have a nice gross margin (low cost), but then suddenly there’s these unforeseen issues (Oh we had strikes, broken equipment, government problems, natural disasters etc. etc.) and so we can’t pay you a dividend (MIM and LHG in the mid 90s and many others since). This makes an outside player like me very distrustful of miner’s projected costs and expected wonderful activities if they don’t have a proven history.
MCR is not a serial excuse maker and pays. VERY IMPORTANT in mining investment selection.
S
MCR Price at posting:
$1.00 Sentiment: LT Buy Disclosure: Held
