my back of envelope says we need Cu/Ni along with Pd, to rebound
Mg will potentially add aprox 10% to credits ( very rough numbers in $ terms ) but overall to achieve the very low cash cost they are aiming for, base metals overall need to recover somewhat
Pt bouncing is good but the real kicker is Pd
CHN will be a massive beneficiary of either a) base metal rebound or b) Pd rebound or in a perfect storm c) both
Au is a nice bonus in the production mix but represents a fraction of Pt/Pd produced
CHN Price at posting:
$1.23 Sentiment: None Disclosure: Held
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