Mincor grows gold, watches nickel
10th November 2017
Resources Rising Stars
Mincor Resources has increased its Widgiemooltha gold resources south of Kalgoorlie by nearly 10% to 267,100 ounces, reports MiningNews.
The company added the ounces after “two small but highly effective” drilling campaigns recently that led to the Flinders West discovery.
The former nickel miner says it is on track to begin development in the March quarter next year.
Mincor plans to have ore from Widgiemooltha toll treated, with feasibility work earlier this year pointing towards the recovery of 66,000oz over 19 months, and generating $33 million of cash flow at a price of A$1679/oz.
Meanwhile, the company said it continued to monitor the nickel market given the recent encouragement of a rising commodity price.
Mincor’s ground in the Kambalda region is highly regarded from a nickel exploration perspective.
The company started the quarter with $10.6 million cash.
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