Apart from a few diehards like Fat Prophets who keep pushing resource stocks, it seems most agree the resource boom is over, expecially for base metals.
Zinc is down over 60% from its peak
Nickel down 60%
Lead down over 50%
Copper, which has been held as proof the China super cycle will keep going, has fallen 25% in 6 weeks.
Aluminium down 20% in 4 weeks
PEM and CBH are struggling to survive with the SP of PEM falling over 90% and CBH over 80%. If base metal prices fall further both PEM and CBH will probably have to put their mines on care and maintenance.
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