Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mincor Resources (MCR) has received all key Western Australian State Government approvals for its Cassini Nickel Project
  • Following the recently completed $30 million placement Mincor now has the ability to begin early pre-production capital work
  • Potential early works to begin at Cassini in the March 2020 quarter include infrastructure and access clearing and box-cut development
  • Mincor has ended the day down a slight 0.83 per cent with shares trading for 60 cents apiece

Mincor Resources (MCR) has received all key Western Australian State Government approvals for its Cassini Nickel Project.

With its Northern Kambalda Operations already fully permitted and no Federal Government approvals required, Mincor is now development-ready for its nickel restart from a regulatory approval standpoint.

Following the recent successful completion of its $30 million placement, Mincor now has the ability to begin early pre-production capital works, with an immediate emphasis on site clearing.

The money will also be used to begin excavation of the box-cut at Cassini – which is planned for the March 2020 quarter.

“The receipt of these approvals caps off a brilliant year for Mincor – during which we secured a commercially attractive nickel offtake and processing agreement with BHP, purchased the Long Nickel Operations from Independence Group and attracted significant institutional support,” Managing Director David Southam said.

“Following our recent $30 million capital raising, we are now at an advanced stage of awarding a key contract for site clearing and the development of the box-cut at Cassini,” he added.

Kambalda is one of the world’s great nickel provinces having produced over 51 million tonnes of ore grading 3.1 per cent nickel for 1.6 million tonnes of nickel metal.

Cassini is the first major high grade nickel sulphide discovery in the Kambalda region for many years.

It has a maiden mineral resource of 550,000 tonnes at 3.4 per cent nickel for 19,000 tonnes of contained nickel and has significant resource upside on several fronts.

High priority extensional drilling is continuing and development studies are well underway.

Mincor has ended the day down a slight 0.83 per cent with shares trading for 60 cents apiece in a $202 million market cap.

MCR by the numbers
More From The Market Herald

" Barton Gold (ASX:BGD) kicks off new round of drilling at Tunkillia project

Barton Gold (ASX:BGD) has begun a drilling program at its Tunkillia gold project in South Australia.
Recce Pharmaceuticals (ASX:RCE) - Chief Executive Officer, James Graham

" Recce Pharmaceuticals’ (ASX:RCE) clinical trial returns positive safety profile

Recce Pharmaceuticals (ASX:RCE) has seen its clinical trial receive a good safety profile among ten healthy…
IGO (ASX:IGO) - CEO & Managing DIrector, Peter Bradford

" IGO (ASX:IGO) produces first battery-grade lithium hydroxide from Kwinana refinery

IGO (ASX:IGO) has produced the first battery-grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery in…
Marquee Resources (ASX:MQR) - Executive Chair, Charles Thomas

" Marquee Resources (ASX:MQR) begins drilling at Kibby Basin

Marquee Resources (ASX:MQR) has begun drilling at the highly prospective Kibby Basin lithium project in Nevada,…