Think the forward P/E could be bad ’cause of MCRs current resources/ore rserves- check out page 20 on http://www.mincor.com.au/images/mincor—oosoh.pdf (sorry tried to attach the graph, but think the file was too largre).
Anyway, the bottom line is that MCR’s total Ni Reserves are only 47,000 tonnes as at June 30, 2005 (compared to 53,000 tonnes Ni Jun 04). So, producing 13,000 tones a year only leave them with 4 years more production!!! Course, I know nothing about their curent exlporation stakes (plus they are now looking at gold).
Anyway, the bottom line is that MCR’s total Ni Reserves are only 47,000 tonnes as at June 30, 2005 (compared to 53,000 tonnes Ni Jun 04). So, producing 13,000 tones a year only leave them with 4 years more production!!! Course, I know nothing about their curent exlporation stakes (plus they are now looking at gold).
Anyhow, just my thoughts. Plus SP has hit a fair bit of resistence at 83c… volume is tapering off… not so good.
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