Wyloo Metals makes bold bet on clean nickel
05 Jul 2023 - Wyloo Metals has finalised its $760 million takeover of Mincor Resources to secure its position in the global nickel supply chain.
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Mincor Resources Nl
Mincor Resources NL (ASX: MCR) is an ASX-listed company focused on re-establishing sustainable, high-grade nickel production in the world-class Kambalda district of Western Australia.
The Company has a +300km2 land position in the Kambalda region, with a high quality nickel sulphide Resource and Reserve inventory and development-ready assets that are well placed to capitalise on the strong long-term nickel market outlook.
Building on a successful Definitive Feasibility Study (DFS) completed in March 2020, Mincor has a clear blueprint to return to nickel production, based on an integrated mining and production plan with relatively low capital intensity, low forecast operating costs and attractive financial returns.
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News
Bridge Street Banter: MCR, EVN
In ASX news Monday, Twiggy Forrest's Wyloo is happy to sit tight for the moment on its Mincor bid, while Evolution Mining has given a further update on its problems at Ernest Henry.
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BHP No Help to Mincor with Nickel Offtake Rebuff
Mincor has revealed that BHP had refused a request to alter its nickel ore offtake agreement, throwing a big roadblock in the way of the company’s ambitions moving forward.
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Corporate Chatter: LFS, MCR
Here are short updates on a couple of stories from earlier this week - the hacking of Latitude Financial Services and the on-market takeover bid of Mincor by Andrew Forrest's Wyloo Metals.
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Twiggy’s Wyloo Goes with What it Knows
After looking around overseas, Andrew Forrest’s Wyloo Group has returned to Australia to make its first big deal in minerals with a $760m takeover bid for Mincor Resources.
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Mincor Upgrading Nickel Ops on Shareholders’ Dime
Nickel miner Mincor is after $55 to $60 million via a fully underwritten placement to further boost underground development at its Northern operations in WA.
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Some Life Left Yet in Mincor’s Kambalda Mine
Mincor Resources says it has extended the life at its Kambalda nickel mining operations in WA to six years, following an initial ore reserve assessment for the Golden Mile zone.
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Resource Rumblings: ILU, MCR
News from the ASX resources sector on Thursday saw Iluka wasting no time in moving on from Sierra Rutile and Mincor continuing its Lazarus-like renaissance.
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MCR – Macquarie rates the stock as Neutral
The $2.10 target price and Neutral rating are maintained.
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IGO Confirms Talks, Mincor Strikes Nickel
IGO has confirmed media reports that takeover talks with nickel miner Western Areas are moving closer towards a decision, while Mincor has struck nickel at its Hartley prospect in Western Australia.
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