Hi Mondy, isn't the point of a great thematic is that it points in increasing future demand. Last time I did economics increasing demand has a pretty positive effect on the economics of anything. Agree it won't affect the cost of capital to get it out of the ground but an increasing future revenue stream is the other side of the equation and consumer sentiment, which is much harder to quantify, for green everything is also growing. My optimistic hope is that at some stage the thematic of magnetite, and by extension its green credentials, becomes sexy for the investment community and consumer sentiment will carry it further than the pure economics should!
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