Mincor Resources starts blasting at the Cassini nickel project
(Kitco News) - Mincor Resources (MCR:ASX) kicked off with the new year with its first blasts at the Cassini nickel project and Northern Operations in Western Australia after mining contractor Pit N Portal mobilised at both sites.
Mincor managing director David Southam said "the firing of the portal at Cassini was a major milestone, marking the development commencement of the first new nickel mine in the Kambalda region for over 20 years.".
He added “After notching up major achievements earlier in the 2020 year, Mincor formally embarked on its journey towards nickel production in the December 2020 quarter – and we are already now well established on that journey,”
In a shrewd move, Mincor has inked a grid power supply agreement for Cassini with BHP Nickel West, which is expected to bring in a savings of $7-10 million over the next five years.
Shares in the firm have been steadily climbing over the calendar year into this nice channel formation on the daily chart below. The psychological 1.000 level could be an important support area and it is just below the red horizontal line. If there is a break there the 0.950 support lies in wait.