• Mincor Resources (MCR) Receives $25.3 Million Payment for its First Nickel Concentrate Processed by BHP’s Kambalda Nickel Concentrator (BHP)
• The payment represents 90% of payment for ore deliveries, with the remaining 10% due in August.
• With this sale, Mincor delivered the WA Kambalda Project Restart for an actual maximum financing outlay of $98 million, 8% below its estimate of $107 million.
• In addition, major capital works are substantially complete, with the accommodation village expected to be completed early in the December quarter.
• Mincor is up 1.86% on the ASX, with shares trading at $1.65 as of 2:17 p.m. AEST

Mincor Resources (MCR) has received a payment of $25.3 million for its first nickel concentrate processed by BHP’s Kambalda Nickel Concentrator (BHP).

This payment represents 90% of the payment for ore deliveries, with the remaining 10% due in August.

The payment was for 1,003 tonnes of nickel in concentrate and came from the accumulation of ore stockpiles over several months.

With this sale, Mincor delivered the WA Kambalda Project Restart for an actual maximum financing outlay of $98 million, 8% below the $107 million estimate.

In addition, major capital works are substantially complete, with the accommodation village expected to be completed early in the December quarter.

The cost of the village is expected to be $15 million below budget, with installments being made for long-term and major items.

“The receipt of the first nickel sales is another outstanding achievement for the company as we complete our return to the global ranks of nickel producers,” said chief executive David Southam.

“We are also particularly pleased to have reached this milestone, including the development of two underground mines, below our maximum funding estimate.

“This is a tremendous result in one of the most challenging operating environments in recent memory and is a testament to the dedication and effort of our staff and our contractual and operational partners, such as BHP – who have all been aligned on the successful resumption of high quality nickel production in Western Australia.

Looking ahead, Mincor said it will provide an initial mineral resource for the newly identified LN04a surface in the Golden Mile area in Western Australia in July.

Mincor was up 1.86% on the ASX, with shares trading at $1.65 as of 2:17 p.m. AEST.