I have not predicted that, RIO has. Yes I know that this will be criticised again, but they have invested over $100m on the project thus far, I am sure they have a fair idea what is happening.
Listen, I am a huge lithium fan and invested heavily, but we need to stay with our feet on the ground. Once this industry matures, its all about cost of production, and off take agreements signed and legally binding.
How many companies are there in the world mining Iron ore? Only a hand full of big ones! There is plenty of iron ore around also. Same will happen here.
AVZ Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held