PLS put Altura on care and maint saving about $100 mil PA. The Chinese realestate downturn and its over productions of lithium nickel rare earths made mines uneconomical to operate . Many mines around the world are reducing production or putting mines on care. While markets around the world are going gangbusters, mining companies are in pits. Only Chinese stimulus to their realestate sector can rescue the mining industry. I for one underestimated the impact when it was noted couple of years ago millions of apartments were unsold in China and realestate is expected to slowdown. Patience is needed here . In the mean time other interests will keep the mind calm .
WC8 Price at posting:
33.0¢ Sentiment: Buy Disclosure: Not Held
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