Sample Report | Old Report | Not Current

Mincor Resources (ASX:MCR) Share Analysis and Stock Report

MCR
May 31, 2023 FAT-AUS-1122
1.40
Speculative
high

ACCEPT

Wyloo Metals (Wyloo) continues to slowly creep up the register in its battle to acquire Mincor Resources (Mincor), following the A$1.40 stand in the market unconditional offer for Mincor. The Board of Mincor has, in the absences of a higher offer, unanimously recommended the Wyloo offer.

Turning to the technicals, Mincor shares have remained unchanged due to the Wyloo offer.

Regardless, Mincor has been on a downtrend since peaking in April 2022 and the 50-day (red) and 200-day (green) moving averages confirm the downward trajectory.

Mincor Resources (ASX:MCR)

Our stance on the consideration of A$1.40 cash has been that it was on the low side of a fair and reasonable value for control, and we saw no third party bidders. The disruption to delivering nickel ore to the Nickel West Kambalda smelter under the existing offtake agreement was an impost on the value of Mincor but, in our view, would not have been insurmountable.

Mincor Resources (ASX:MCR)

Wyloo is approaching a critical ownership point in Mincor, and we see no further opportunities for a sweetened offer. Considering this, we recommend Members immediately sell their Mincor Resources shares into the open market mechanism to accept the Wyloo offer. Coverage of Mincor Resources will cease immediately.

For Fat Prophets’ current equity research and membership options, visit our Products page.

About this archived stock report

This is an archived Fat Prophets equity research stock report and share analysis. It does not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. It is provided for historical reference only, and reflects the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance. This is general information only and does not take into account your objectives, financial situation or needs. Before acting on anything in this report, you should consider its appropriateness to your circumstances and seek advice from a licensed financial adviser.

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