Bull Run 2018, page-4

Well why not? Iron Ore may not be $180/T, but when AGO had this much Mkt Cap ($4B), they were only producing a few million Tonnes/Y. Iron Ore may have halved in value, but AGO are producing 10 MT/Y now, 5 times as much. Back then their costs were around $70/T, now it's down to $55/T. Back then they weren't a diversified company, now they have a JV with a leading Lithium producer such as PLS.

AGO has much more going for it now than in 2011, yet the Mkt Cap. is a fraction of what it was back then. Well this has to change, and it will change. If that Bloomberg video from RC is any indication, then the market is realising that commodities has been at the bottom of the cycle for a long times and the tide has finally turned.