• MCR is a nickel stock in a nickel-plated world. At least a world of increased electrification.
• The company has just raised $65m in a capital raise and also has a new $30m revolving credit facility with BNP Paribas.
• The capital raising was done at 128c. There is also a SPP at the same price.
• Cassini is emerging as a new nickel play in Kambalda.
• MCR has received assay results from the drilling at Golden Mile, which has confirmed an intersection of 0.5m @ 6.3% Ni.
• Exploration success at two targets.
• Decline advance rates for both the Cassini project and Durkin and Long operations is progressing in line with expectations.
• MCR remains on track to achieve first nickel concentrate production in March
  2022.

Long term it is interesting, but with the current downdraft in resource stocks, as iron ore falls infect the sector, I would be a little cautious and especially given potential indigestion from the capital raise.

For now, watching but not rushing. A move back towards 125c and below cannot be ruled out. Far more interested there.

Source: Marcus Today newsletter