INTERCEPTS Sat 02/08/2014

Better period for Mincor

12th Apr 2012

PERTH, April 12 – The March 2012 quarter has been a good one for Kambalda, Western Australia, nickel miner Mincor.

Its preliminary March quarter results, which don’t include any financials, has the company’s Kambalda nickel mines’ production up 29% on the December 2011 quarter to 2,682.1t nickel-in-ore and the grade up 11% to 3.06%.

The new high-grade N29C orebody at Miitel is set for production by end of the June quarter, the high-grade N10B orebody at Mariners is also set to start production ramp-up in June and the new discovery at McMahon (the MNO3 orebody) has potential to add future high-grade production.

Mincor’s mines produced 87,696t of ore at 3.06% nickel, for 2,682.1t contained nickel. Nickel-in-concentrate totalled 2,405.4t, with cash costs yet to be finalised, but expected to be well below the targeted $A6.10/lb.

Mincor says it is on-track to meet its production forecasts and substantially out-perform its cost forecasts for the 2012 financial year, which were 10,000t nickel-in-ore at cash costs before royalties of $A6.10/lb.

Mincor’s 70%-owned Carnilya Hill mine reached depletion during the March quarter and shut-down protocols have been implemented.

Mincor’s full March quarterly is expected about April 18.



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Bannerman welcomes alliance
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Canada promises fixed project approval deadlines
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Mansell joins gold company
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McCauley promises to clean out Capital
Minbos posts Angola resource
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