MARKET TALK: Australia's Mincor Buys Otter-Juan Nickel Mine

Mincor Resources (MCR.AU) buys Otter Juan mine for A$68.5 million from GMM, extending December transaction of GMM's historic McMahon and Durkin mines into acquisition of entire company. Deal includes A$30 million paid for two other GMM assets. Otter Juan to produce 3,600 tons of nickel for next 3-4 years, upside seen; deal puts Mincor within reach of targeted 20,000 tons sustainable nickel production, says MD David Moore. Mincor shares up 3.6% at A$4.00.