AGM 1.50% $1.97 australian governance & ethical index fund

serious comparison for agm holders to ponder

  1. 5,233 Posts.
    MINCOR MCR half year results.
    Record half-yearly production of 8,196 (16,392 pa)tonnes nickel in concentrate.
    • Net Profit after Tax of $31.3 million for the half year.
    • Strong growth in underlying earnings over previous corresponding period.
    • Steady interim dividend of 6 cents per share fully franked.
    • Cash balance of $110.8M at 31 December 2007 and no debt.
    • New mines under development and aggressive exploration underway
    Australian nickel producer Mincor Resources NL (ASX: MCR) has delivered another strong half yearly
    earnings result, today announcing a $31.3 million net profit after tax for the six months to 31 December
    2007 (after writing off $6.3 million in exploration expenditures) and a strong increase in underlying
    earnings over the previous corresponding period.
    The profit result for the current period was impacted by the extreme volatility in the nickel price between
    July and September 2007. The final nickel prices for April to June of 2007 were established during July
    to September, and the recognition in the current period of these provisional pricing adjustments reduced
    the headline profit number from an excellent $39.7 million (Dec 2006: $37.2 million). The net profit
    translated into earnings per share of 15.6 cents (Dec 2006: 19.0 cents).

    at $3.35 MCR are on a current PE of about 10.4 where as they were on around 6.5 or so before this announcement.
    MArket Cap around $650 mill.

    how does this compare with AGM?
    be honest please.


    cheers
 
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