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HomeFinTechMincor Resources: Receives $25.3m nickel concentrate payment

Mincor Resources: Receives $25.3m nickel concentrate payment

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Mincor Resources Receives $25.3m nickel concentrate payment

  • Mincor Resources (MCR) receives a $25.3 million payment for its first nickel concentrate processed through BHP’s (BHP) Kambalda Nickel Concentrator
  • The payment represents 90 per cent of the payment for ore deliveries, with the remaining 10 per cent due in August
  • With this sale, Mincor has delivered the restart of the WA Kambalda project for an actual peak funding outlay of $98 million — 8 per cent lower than its estimate of $107 million
  • Further, major capital works are largely complete, with the accommodation village expected to be finished early in the December quarter
  • Mincor is up 1.86 per cent on the ASX, with shares trading at $1.65 at 2:17 pm AEST

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