I'm up 98% on a graphite play just on pure speculation. It's nuts. People can check what stocks I follow if they want to know. Someone on the IMU thread said it best. If these stocks were listed on the NASDAQ, we'd be rollin' in dollars. But the ASX is for sand gropers and bull ants. Successive governments have failed to address the hard task of moving Australia past the "houses and holes" mentality and into the value-added economy.
The WA govt literally hands out $Millions in grants to mines to get them going. And fair enough. The dirty secret of mining is that >90% of the money they make goes directly back into wages, machinery, infrastructure and govt fees. While it's a big local economy booster, there's almost zero multiplier effect in the primary industry which is why Warren Buffet and others never invest in the mining industry.
At the exact opposite of the scale is biotech. One drug can return 10,000% or more profit. Countries like Israel know that which is why they're charging ahead with this knowledge capital industry. I remember rolling my eyes when asshat Scott Morrison brought his varnished lump of coal into parliament. Zero vision. Let's hope landlord Albo can pick up on the foresight of the US and their "moonshot on cancer" program and actually back the real, long term winners.
Damn these Japanese hard seltzers are good. Rant over.
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