Mincor Resources: Receives $25.3m nickel concentrate payment

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