Mincor jumps on June quarterly report

Shares in nickel miner Mincor Resources closed nearly 20 per cent higher today, driven by a positive quarterly report where higher production and lower cash costs generated a net cash flow of $17.9 million.

The miner reported today that cash costs had dropped 15 per cent from the March quarter's $A5.25 a pound of payable nickel to "multi-year" lows of $A4.45 a pound.

Production volumes increased to 3823 tonnes of nickel in ore, bringing full year production to 17,630t, above the target range of between 16,500t and 17,500t.

Mincor also reported "exceptionally" strong cash generation, with net free cash jumping 74 per cent on the previous quarter to $17.88 million in the June quarter.

Shares in the company closed up 31 cents, or 19.5 per cent, to $1.90 today.