Ann: Annual Report, page-3

I know I said a few days ago "there's not much to say right now" but I'm still surprised by how quiet the HC MLX forum is even on a day with
* annual report released
* +6.4% close / +7.7% intraday peak
* tin price up ~$500-$1000 and hovering just shy of $30k
* other recently ongoing news events like the Indonesia corruption investigations still bubbling along

There's a bit more noise on twitter but still little compared to uranium, gold, energy, even copper, rare earths, niche battery metals, etc. Some of these have had a great month or a great year but few have had both in the way tin has. It's nice to be invested in a quiet performer, feels less like I'm holding alongside a pump & dump crew.

Anyway, congrats to all holding over the past few weeks, solid run from low 30s to here. Perfect storm with the buyback opening of the value trap "locked box" of cash as Jeremy Raper called it followed by the tin price ripping within a few weeks, perhaps there were a few people out there who shared his view and have been scrambling to build a position since the announcement. If so, quite bad luck for them that there wasn't more of an opportunity to accumulate in the low 30s. Same comment applies to the buyback itself, which has been inactive I assume due to inability to make bids above the 5-day VWAP. All short term noise in a sense, though, and always easy in hindsight to wish for different behaviour from a buyback.