Also, whatever risks Pakistan may hold, years of project work in Africa has probably taught them a thing or two about these sorts of risks (without wanting to suggest Pakistan is necessarily similar to their African geographies, in all respects).
Also, provides further diversification away from gold. What's more, if we are going to hitch ourselves to the electrification bandwagon (and given LYL doesn't own the mines or infrastructure, why wouldn't we?), I personally would rather be hitched to copper than to lithium - though a bit of both is probably not a bad thing.
Finally, it's always difficult with a "cyclical" to know if it's really a "compounder" (at least to a degree) masked by a cyclical overlay. And if it is, anchoring to yesterday's "mid cycle" (even when in real terms), may not be a good guide. I'm not sure, but I will be more sure when the market chooses to believe that LYL is indeed not a cyclical.
LYL Price at posting:
$10.40 Sentiment: None Disclosure: Held
(20min delay)