Hi Burnside, yes you’re right. If Citronen gets up and running and this comes to pass, IBG will be well placed. I remember ten years ago or so, reports offering opinion on zinc supply / demand due to renewables, fertilisers and galvanising China & India’s steel. Admittedly the LME inventory has reduced from around 1M tonnes to about 80k, the price hasn’t changed much despite all the “closures” and “reduced “supply. Thankfully zinc hasn’t dropped below $1/lb, but needs to increase by at least 50% as an average price to warrant investment in Citronen. I also don’t think the EXIM or any other Scandi mining firm is going to invest while there is a war between Russia and anyone else. So, my question is, how many cap raises will we need before this hallelujah demand surge by/around 2040?
Im wearing my negativity pants today
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