Company Information for Mincor Resources NL

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ASX; MCR

Company Statement

Mincor Resources NL is a growing and profitable nickel mining Company listed on the Australian Stock Exchange. The Company is debt-free and has paid regular fully-franked dividends since 2003.

Mincor operates five nickel mines in the Kambalda District of Western Australia, is developing a sixth, and carrying out feasibility studies on two more. The Company is also very active in nickel, gold 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, profitable production, strong cashflows and regular dividend payments, Mincor represents a quality investment in the well-proven Australian resources sector.

Mincor's production is targeted to reach an annualised rate of 20,000 tonnes of nickel metal contained in ore by the end of the 2008 financial year. Mincor's goal is to maintain production at that rate for the long term, exploiting the extraordinary nickel endowment of the Kambalda District to continually grow its resources and reserves.

Current Operations

Miitel Nickel Mine
Mincor acquired the partially developed Miitel Mine from WMC Resources Ltd in 2001 and put it into production that year as the Company's first mine. Since then Miitel has produced 1,450,000 tonnes of ore at an average grade of 3.30% nickel for 47,500 tonnes of contained nickel metal. With past production added to June 2007 ore reserves, Miitel's total known nickel endowment is in excess of 65,000 tonnes of metal, and with future exploration success may ultimately exceed 100,000 tonnes of contained nickel metal - making Miitel one of the more siginficant of Kambalda's ore bodies.

The Miitel ore body has an elongated, near vertical but gently plunging configuration, making it ideal for mining. The channel structure that hosts the ore lenses has proved very continuous. Mincor discovered the North Miitel ore body in 2002 (which is now in production) and the South Miitel ore body in 2005 (which is now under development). The overall mineralised system remains open to the north and south and subject to ongoing exploration.

Otter-Juan Nickel Mine
Otter-Juan is Kambalda's oldest producing mine and by far its largest single producer. The mine has been in near-continuous operation since 1970 and to end-June 2007 had produced 8.3 million tonnes of ore at an average garde of 3.56% nickel, for 297,000 tonnes of nickel metal.

Mincor acquired the Otter-Juan Mine in July 2007 through its acquisition of the privately owned company, GMM Pty Ltd. Mining is expected to continue for at least the next four years at an annual rate of approximately 100,000 tonnes of ore grading 3.6% nickel, for 3,600 tonnes of nickel metal per annun.

Mariners Nickel Mine
The Mariners Nickel Mine was discovered and operated by WMC Resources Ltd between 1991 and 1999, over which period it produced 1,114,730 tonnes of ore at 2.53% nickel for 28,190 tonnes contained nickel metal. It was closed by WMC and written off in 1999 due to flooding which coincided with a period of low nickel prices. Mincor acquired the project at no cost as part of its acquisition of the Miitel Nickel Mine in 2001.

Mincor carried out feasibility studies on reopening Mariners during 2002 and 2003, and gave the project the go-ahead in 2004. After six months of pumping the mine was de-watered and mining commenced.

Since then Mincor has extracted 388,000 tonnes at 2.11% nickel for 8,000 tonnes of nickel metal. Mining is continuing at a rate of approximately 14,000 tonnes of ore per month. The recent discovery of a new ore body below the current level of mining has greatly increased the value and life of the operation.
Mincor operates the Mariners Mine via a mining contractor (currently Barminco) under the same contract as Miitel. Mincor provides mining engineering, planning, surveying, geological and management expertise, while the contractor carries out the drilling and blasting and the transportation of the ore to surface. The mine is largely mechanised.

The exploration potential at Mariners Mine is very high, as recently demonstrated by the discovery of the new N09 ore body. Mincor maintains an active exploration program of underground drilling at the mine.

Geographical Spread

Australia

Board of Directors and Key Management

David Humann	(Non-executive Chairman)
David Moore	(Managing Director)
Ian Burston	(Non-executive Director)
John (Jack) Gardner	(Non-executive Director)
Brian Lynn	(Chief Financial Officer and Company Secretary)
Steve Cowle	(Chief Operating Officer)
Dean Will	(Chief Mining Engineer)
Richard Hatfield	(Exploration Manager - Regional)
Peter Muccilli	(Exploration Manager - Nickel)
Graham Fariss	(Head of Corporate Development)
Mike Hildebrand	(General Manager Kambalda Operations)
Robert Hartley	(Projects Manager)
Peter Teasdale General Manager	(Otter Juan Nickel Mine)

Company Address

Level 1
1 Havelock Street
West Perth, Australia 6005


Telephone:	(+618) 9321 7125
Email:	mincor[at]mincor.com.au
Website:	http://www.mincor.com.au

Additional Address/Key Contact

PO Box 1810
West Perth 6872
Western Australia

Miitel Mine
Coolgardie - Esperance Highway
via Widgiemooltha, Kambalda WA 6442 Australia

PO Box 42
Kambalda WA 6444 Australia

Tel: +61 8 9020 8200
Fax: +61 8 9020 8201

Capital

ORDINARY SECURITIES 197,541,011 Total
UNLISTED OPTIONS
28,000 expiring 6 November 2008 142,000 expiring 25 October 2010 2,550,794 expiring 7 May 2011 850,000 expiring 19 October 2011 530,000 expiring 5 December 2011

Annual General Meeting

November

Year End

30 June

Broker/Analyst Reports

21/08/07 - Patersons
13/07/07 - Mincor Resources
16/05/07 - Patersons - Mincor to Acquire Otter-Juan Nickel Mine

Major Shareholders

	% Issued Capital
JP Morgan Nominees Australia Limited	11.36

National Nominees Limited	10.45

HSBC Custody Nominees (Australia) Limited	9.87

ANZ Nominees Limited	7.63

David C Moore	2.01

Citicorp Nominees Pty Limited	1.93

Cogent Nominees Pty Limited	1.14

Australian Reward Investment Alliance	0.92

Anthony H Shields	0.75

Citicorp Nominees Pty Limited (CFSIL CFS WS Small Comp A/C)	0.75

John W Gardner & Janet L Gardner	0.61

Ravex Pty Ltd	0.59

Cogent Nominees Pty Limited	0.56

Citicorp Nominees Pty Limited (CFS Future Leaders Fund A/C)	0.55

Robert E Macmillan & Ruth D Macmillan	0.55

HSBC Custody Nominees (Australia) Limited - A/C	20.52

Anthony H Shields & Amanda C Nayton	0.50

Daphne G Balaam	0.50

MLEQ Nominees Pty Limited	0.44

AMP Life Limited	0.42

Most Recent Statement

21/08/08 - Full Year Results 30 June 2008
12/08/08 - High-Grade Intersection in Third Otter Juan Step-Out
06/08/08 - Remnant Mining Ends at Wannaway
06/08/08 - MD's Presentation at Diggers & Dealers 2008
04/08/08 - Mincor Delivers High-Grade Nickel Intersections
23/07/08 - Quarterly Report

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