great detailed post.
I would argue it’s mainly a supply side story though. Historically barring global recession, MS demand grows inline with Global GDP (circa 3% pa).
where is all this new supply coming from? STA has apparently been the biggest project coming to market in recent years and nothing as material forecast over coming years. Now unlike a major copper mine taking up to 7 years, it’s still 2-4 years for a major MS discovery to turn into first mine. So surely a few years head start already? Or am I missing something here and there are already pre committed mines being built?
as for pricing ongoing strength and favourable D&S dynamics this is also from TZMI, the industry expert consultant.
I expect by mid-late next year we are ASX 200 as a minimum, meaning Aussie Instos and index funds will hold 50-70%. (Same as ILU, which is why SRX is getting sold off so heavily with “unnatural holders exiting”
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