I think you have your answers now to the "tariffs are going to...

I think you have your answers now to the "tariffs are going to send" the stock price etc highers.

These general tariffs are HIGHLY RECESSIVE from a economic perspective (I think I've said that all along). No better signal than this current trading day in the US. Copper is an industrial metal - Dr Copper they call it right. Silver, while a precious metal is also industrial and as intertwined with the electrification thematic as copper. Both (from a stock price perspective) in my portfolio are down big time - the major US listed producers that is - so Freeport McMoran, Hudbay, Pan American Silver, First Majestic - all down by much more than the market rout average. Same for some O&G like Conoco.

That, as I interpret it is screaming a US led recession is coming - lower demand for Copper, Oil, Silver - that spills over into global recession as these tit-4-tat tariffs are going to effect us all.

So back to the thematic for NWC. Will we get to sell our concentrate to a US smelter (and there's only really a couple available) or will we as the PFS indicated export through to a global market ... and likely have a tariff placed on our American produced concentrate.

What should have gone up (and didn't) and producers on copper cathode in the USA ... no tariff on that (local produced) ... why ... because even the price of copper dropped by greater than S&P average.

The project remains a good project ... but even the best new projects will find it hard slogging against a global recession if that's where these "tariff wars" take us.

Be careful out there and DYOR, especially now.