This is a really good read for anyone investing in the junior resource sector. I particularly like the analysis on the present funding constraints. Despite this there still appears to be a degree of optimism out there which suggests to me there may well be more pain to come in 2023.
Not a bad time to be cashed up with term deposits earning close to 4%.
The one thing I have always liked about these guys is they get and understand the cyclical nature of the mining sector. They importantly have an exit plan where most simply buy and hold and hope for the best.
Right now they are targeting a minimum cash backing of approximately $0.54 a share come February 2023 when the remaining Pani payment is received. Their equity positions (which you presently get for free) provide a good degree of optionality with any one of them capable of significant event driven upside.
LSX Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
