Ann: Capital Raising Presentation, page-199

The thing about BHP and RIO is there is always a chance of loosing a lot but never a chance of making a bonanza profit. They operate in some very risky environments. Sure they have doubled in SP every 7 years for quite a while and pay dividends but thats boring compared to whats possible in stocks like HGO.

Distressed small caps with good assets are IMO the place to be if you like dreaming of your bet paying off. If you want copper exposure, a company with a low cost plant which can process 2.5m tonnes p/a of high grade copper ore thats sitting ready to go and has exploration targets and MRE's with close to 2% cu eq grades sitting adjacent to the plant is a better place than BHP or RIO to be. If it is also a few kms from a major Australian city and port it turns into a very attractive proposition.

Saddend by the latest lockdowns and the weather turning bad up here, we just have to make the most of a crappy Easter.

There is always wining and dining to fall back on I guess.



Looking forward to sunny days and a pot of gold at the end of the rainbow which could be waiting for us just around the headland.