Welcome to the jungle Jlt8
POS should be at 19c-29c & producing now but its not.
BMM & AF should be increasing their stock holdings but foolishly gone the other way.
BHP have a supply deficit of 44ktpa right now with this Tesla offtake deal.
Their projected deficit will grow to 50kt by 2024 as demand continues to increase yet supply continues to crimp or not increase comparative to demand.
The awaited MCR offtake is only another 9ktpa
The Mt Keith expansion only another 10ktpa
These already accounted for from existing customers ex Tesla.
BHP has a big problem with supply, they will be in breach of contract with suppliers & no way of rectifying it other than spending $500M more and more capex.
Noront will NOT solve their problem for another 6 years.
MCR & Mt Keith also will not
expanding the refinery also will not.
IGO taking over WSA also will not
PAN going with Trafigura will not
POS going elsewhere also will not.
They need high grade concentrated ore NOW.
Not more capex and mine building taking 3 years.
POS IGO WSA are a solution but they are dragging their feet & not paying the piper.
Ni war coming here imho.
BHP buys noront resources, page-57
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