While the intersection of first development ore at the Cassini nickel mine helps de-risk Mincor Resources’ production resumption, Macquarie had already allowed for this in forecasts.
Hence, the $2.10 target price and Neutral rating are maintained, though the broker suggest current spot nickel prices offer upside risks to its estimates.
Sector: Materials.
Target price is $2.10.Current Price is $2.15. Difference: ($0.05) – (brackets indicate current price is over target). If MCR meets the Macquarie target it will return approximately -2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
