Mincor shares jump on new acquisition

Company News

Shares in Mincor Resources NL (ASX:MCR) jumped yesterday after the nickel miner said it had acquired highly prospective tenements in Western Australia’s Kambalda nickel district. 

The tenements are being acquired from Jupiter Mines Limited (ASX:JMS) for $200,000 subject to regulatory approvals.

The acquisition adds 56.4 square kilometres to Mincor’s landholdings in the southern part of the Widgiemooltha Dome, which contains around12 kilometres of strike.

Mincor says once the sale is finalised the tenements will become an important part of the miner’s aggressive and well-funded Kambalda nickel exploration program.

Shares in Mincor jumped 7.91 per cent yesterday, finishing at $0.75.

In the 2011 financial year Mincor Resources posted a net loss of $23.4 million.

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