I think it is getting beyond that basic principle. The dream of MIN bottoming out at $15 for example .. You buy big and in 3 years you have tripled your value or maybe more and it is the easiest money you have made.
That is a possibility but unlikely. There will be ramifications for this mismanagement of company capital. The price of lithium wont do a lot better near future which means the company will continue to lose money or break even at best. Which will result in more assets being sold or capital raises undertaken to balance the books.
Right now MIN is a horrible investment. High debt, zero profit, zero dividends and the potential for further negative news. Just because it is cheap compared to years gone past is relative to how poorly it is performing and the very real danger of a prolonged period of pain continuing.
MIN still a watch now for me. See how the next 6 months goes with IO, lithium and mining performance and if things improve just like you I will be swooping in for more. Too early for me still.
MIN Price at posting:
$24.18 Sentiment: Hold Disclosure: Held
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