MCR 0.00% $1.39 mincor resources nl

mincor top analysts' nickel pick list

  1. 10 Posts.
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    This company looks like it has huge potential, although the market is very flat. Am I the only one? :)

    MINCOR Resources and Jubilee Mines are the nickel producers investors should look at for exposure to the nickel price - which last night reached around US$9000/t - based on a snap poll of analysts this morning.

    Jubilee, which mines the highest grade nickel sulphide orebody in the world at its Cosmos operation, is credited with having a quality asset, no hedging and an excellent track record, according to Euroz Securities' Andrew Clayton.

    For speculators, Clayton likes the look of Western Areas, which is undertaking a feasibility study at its Forrestania nickel project.

    Adam Conigliaro at Hogan&Partners backs Jubilee, as he does Mincor, which produces nickel from operations near Kambalda and which recently completed repayment of a $29 million debt to BankWest.

    "It's exceeded expectations and it says a lot about [Mincor's] management … to repay debt 12 months in advance," Conigliaro said.

    "Mincor has delivered and has the means - via its production and balance sheet - to grow to the next stage of its corporate development.

    "It also has plenty of exploration upside."

    Paterson Ord Minnett's Rob Driscoll rates Mincor ahead of Jubilee based on its "more tangible growth profile".

    For the speculative inclined, Driscoll flags Titan Resources, which at a recent trading price of 15 cents a share is only slightly up on its 13 cents per share cash backing. The analyst also notes Titan's exploration efforts in the Widgiemooltha area south of Kambalda.

    Ian Prentice at Macquarie is another in the Mincor fan club, highlighting the company's inexpensive ("cheap") share price, its good cashflow, its intention to pay a dividend at the end of the year, and its exploration and acquisition strategy.

    Sally Malay Mining also got the nod from Prentice, with the would-be East Kimberly nickel miner about to announce who will bankroll the development. First production from the project is due in around 12 months "so you'll get a re-rating on the back of that".

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