I suspect sovereign risk is coming into play.
There is only a one country market for this ore.
Australia has already sanctioned Bauxite exports to Russia.
In that case it was RIO who took the export hit.I would imagine now sending ore to China instead.
Not that the Australia government minds as RIO has a large Chinese shareholder which wasn't being exactly nice to Aussie exports.
If China gives anymore support to Russia or tensions rise further around Taiwan,there is a serious risk here.
That is why I am no-longer a shareholder.
I took the 2.3c peak to exit for a better opportunity at that time.
2023 Production Progress, page-193
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