Company Information for Mincor Resources NL

Company stock charts - 6 Month chart

ASX; MCR

Company Statement

Mincor Resources NL is a nickel mining company listed on the Australian Stock Exchange. The Company is debt-free with an exceptionally strong balance sheet and has paid regular fully-franked dividends since 2003.

Mincor operates two mining centres in the Kambalda Nickel District of Western Australia, with a production capacity of up to 20,000 tonnes per annum of nickel-in-ore. Production for the financial year 2008/09 is forecast at between 16,500 and 17,500 tonnes of nickel-in-ore. The Company is also active in nickel and base metal exploration throughout Australia.

Mincor’s growth strategy is aimed at the creation of a diversified mining house through a strong focus on growing the Company’s successful nickel business while simultaneously expanding its interests across a wider range of mineral commodities.

With its outstanding growth potential, strong cash flows and regular dividend payments, Mincor represents a quality investment in the well-proven Australian resources sector.

Mincor's Growth Strategy
Mincor's goal is to generate superior long-term Total Shareholder Returns through aggressively growing its nickel production and by providing exposure to the outstanding exploration potential of its large Kambalda land holdings, as well as its Australia-wide base metal exploration portfolio.

Thus, Mincor's Growth and Expansion Strategy is aimed at growing its highly successful Kambalda nickel business while simultaneously expanding its interests across the wider minerals industry via base metals exploration and judicious project acquisitions.

Current Operations

Kambalda Nickel Operations
The Kambalda Nickel District in Western Australia is one of the world's great nickel provinces. Since its discovery by WMC Resources Ltd in 1968 it has produced over 40 million tonnes of ore, containing more than 1.2 million tonnes of nickel metal. The District has consistently generated more than 35,000 tonnes of nickel metal per annum, apart from a brief period in the late 1990s when it was partly shut down.

Mincor played a leading role in the post-2001 revival of the Kambalda Nickel District, and is the largest single producer in the District.

Mincor commenced production from its Miitel Nickel Mine in March 2001. Since then it has grown to become one of the largest producers of nickel in Australia. To the end of June 2007, Mincor had produced over 74,000 tonnes of nickel metal contained in more 2.5 million tonnes of ore. Over the same period Mincor has maintained an outstanding record of increasing its ore reserves, and today has a bigger inventory of nickel metal than at any time in its history.

The Company has mining operations throughout the Kambalda Nickel District and at full capacity is able to generate ore from up to seven mines, including Miitel, Otter Juan, Mariners, Coronet/McCloy, McMahon, Wannaway and Carnilya Hill. All of these mines are underground narrow-vein mining operations, and all are owned 100% by Mincor, apart from Carnilya Hill, which is 70% owned by Mincor.

Mincor's wide suite of mining operations give it an unusual ability to tailor production to the prevailing nickel price. The Company is capable of lifting production towards 20,000 tonnes per annum of nickel in ore at times of strong demand, and is able to reduce production to a robust core of low cost mines at times of weak demand. At all times Mincor maintains a consistent and well-funded exploration effort, exploiting the extraordinary nickel endowment of the Kambalda District to continually grow its Mineral Resources and Ore Reserves.
All Mincor's ore is toll-treated at BHP Billiton's Nickel West concentrator plant in Kambalda. The resulting concentrate is sold to BHP Billiton under a long term off-take agreement with that company.

Geographical Spread

Australia

Board of Directors and Key Management

Directors
David Humann	Chairman
David Moore	Managing Director
John (Jack) Gardner	Non-executive Director
Ian Burston	Non-executive Director

Management
Steve Cowle	Chief Operating Officer
Graham Fariss	General Manager, Corporate Development
Robert Hartley	Projects Manager
Richard Hatfield	Exploration Manager, Regional
Brian Lynn	Chief Financial Officer and Company Secretary
Peter Muccilli	Exploration Manager, Nickel
Peter Teasdale	General Manager, Otter Juan Nickel Mine
Dean Will	Chief Mining Engineer

Company Address

Level 1, 56 Ord Street
West Perth, Australia WA 6005


Telephone:	+61 8 9476 7200
Facsimile:	+61 8 9321 8994
Email:	mincor[at]mincor.com.au
Website:	http://www.mincor.com.au

Additional Address/Key Contact

Tel Int: +618 9476 7200
Fax Int: +618 9321 8994

EXPLORATION OFFICE (Kambalda)
Office 2, Coronet Mine
Kambalda WA 6442 Australia

PO Box 270
Kambalda WA 6442 Australia

Tel: 08 9020 8600
Fax: 08 9027 1911

Capital

ORDINARY SECURITIES
198,882,342 Total

UNLISTED OPTIONS
60,000 expiring 25 October 2010
1,632,462 expiring 8 May 2011
667,001 expiring 19 October 2011
320,000 expiring 5 December 2011
100,000 expiring 22 July 2012
695,000 expiring 5 December 2012
200,000 expiring 5 March 2013

Annual General Meeting

November

Year End

30 June

Major Shareholders

Top Ten Shareholders
Shareholder	Shareholding	% Issued Capital
JP Morgan Nominees Australia Limited	17,459,239	8.78
National Nominees Limited	13,535,977	6.81
HSBC Custody Nominees (Australia) Limited	10,567,780	5.31
ANZ Nominees Limited	8,988,347	4.52
Citicorp Nominees Pty Limited	4,354,612	2.19
David C Moore	4,000,000	2.01
Citicorp Nominees Pty Limited	2,484,284	1.25
Anthony H Shields	2,000,000	1.01
HSBC Custody Nominees (Australia) Limited	1,337,057	0.67
Cogent Nominees Pty Limited	1,314,706	0.66

(As at 2nd March 2009)

Most Recent Statement

22/05/09 - Audio Broadcast - Driving Growth through Exploration
19/05/09 - Potential New Discovery at Mariners Mine
29/04/09 - Quarterly Activities Report
17/03/09 - Mincor Audio Broadcast
11/03/09 - Managing Director`s Presentation to Investors
10/03/09 - Open Briefing Financial Results and Stronger Outlook

To top