Hermosa the monster, page-42

@pomhat This is why I like "Alerts" on Commsec which send push notifications when a stock hits a certain price Although they're sometimes an unpleasant surprise if a profit downgrade is announced!

@Ashentegra is forgiven for being like 'a dog with a bone' regarding Hermosa. I always enjoy the Hermosa comments. Given how much S32 paid for that project, anything less than a world class project as an outcome from here would be a major disappointment. Ambler looks spectacular. Imagine if a resource like that were somewhere less challenging. As it is, I struggle to imagine the environmental approvals getting up. And given the remote location and infrastructure required, it would surely be a project for the 2030s rather than the 2020s. Mid-August for the Khoemacao project is not far away at all. Closer than I realised. I almost hope we fail to get it because it will surely involve a very high premium and no doubt there will be plenty of other bidders. Copper isn't exactly under the radar. I'll trust management's judgement either way.

Iron ore and coal doesn't interest me at all. I'm not sure why. Not sexy enough maybe. I am very happy with our mix of base metals and management's future plans. Our revenue certainly jumps around a lot (our diversification is fantastic!). I thought our aluminium revenue was much higher, but it seems I was completely wrong.



@mayo1975 Thanks for those FN Arena forecasts you post. I'm grateful to you for doing that.

@Cocky5 I'm not sure that 9.5% yield will eventuate. Gee it would be nice though! I'm not banking on it, that's for sure. But even if it's half that, it's still a pretty healthy return per year while waiting for commodity prices to increase. I hope you're right.

@SignOfTheTimes I couldn't agree more. I made a small purchase this week in the low-3.60s. Then again at $3.80. I'm no technical chartist. But the YTD chart is ugly. Zooming out to "max" timeframe, since inception and it looks much better. At the start of the week, since mid-January we were down ~25% year to date. I'm a huge long term S32 fan but have been reluctant to throw the proverbial kitchen sink at buying shares when I've been able to get smaller parcels, progressively cheaper, and at low risk. Actually I'll probably keep buying parcels no matter what happens with the share price Seeing a price temporarily in the 3.50s surprised me though. You did extremely well. Unless something really dramatic happens (a worldwide pandemic) ridiculous prices like $2.50 per share are likely never to be seen again.

@Red Dirt Dan You asked me a while ago about a graph I posted. It was from a recent article posted by Richard Mills on his excellent "Ahead of the Herd" website. There's a free newsletter which provides links to his weekly articles. No spam. Only information on the macro issues facing commodities. He's on Twitter too. I couldn't find the exact article, but I'm sure that's where I saved the jpeg from. I thought it might be in this article (below) but had no luck. He always articulates and substantiates, in a very easy to understand way, what a lot of people struggle to comprehend regarding the massive task ahead for achieving net zero goals.