A year go I was pursuing opportunity in all electrical revolution metals.
In recent months, my thinking has changed.
On battery metals, there is some substitutability between ingredients, and ongoing research into new combinations. So if Co or Li demand drives serious price hikes, battery scientists can change the mix, at least on the margin.
Then, there is the newness of the battery metals market. Supply and demand for these elements has not been through a full commodity super cycle. Does anyone really know whether we are digging 10m tons of Li when demand will be only 5m? That would be Whoops! and an uncompensated risk.
None of these doubts apply to Copper. If car manufacturers, wind turbine makers and electricity grid engineers add to demand, something will have to give. PoC would be whatever is needed to bring many new and marginal mines into production.
That price would have to be a multiple of the current $4.25 a Lb.
Be careful out there.
Ash
A1M Price at posting:
47.5¢ Sentiment: Buy Disclosure: Held
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