They'd also be fueled by general economic downturns and super cheap financing at the moment. As most of the world pushes towards negative/zero interest rates it makes sense to do your expansion if you've got the financing. The big players will be seen as reasonably sure bets in this climate by banks, they'll expect that they'll be able to actually pay back their loans. The smaller player with literally just some dirt in the middle of nowhere? they're on their asses and postponing because no ones going to lend something like that money.
GXY is somewhere in the middle of that. They have assets that can make money. Even ORE with their poor quality product and inefficient processes is managing to make money in this climate which should tell you enough about the state of the market. Everyone is bleating like the end of times when the reality is that the 300% margins of 24 months ago just aren't happening in the current climate. Instead it's 30% margins until more converters come online.
GXY Price at posting:
84.5¢ Sentiment: Buy Disclosure: Held
