Commodity Prices

Commodity prices making a nice and interesting move tonight.

Overall for mine the reports today were net positives with the main negative overhanging the stock (as we all know) the royalty issue. Market participants tend to price in the worst case in these scenarios and I believe we are close to a potential exhaustion sell off, potentially as early as tomorrow. I’ll be ready to buy if it happens as this is already well and truely factored into the share price.

The current sellers will regret but will justify on a risk/return basis in coming months.

Commodity prices will dominate share price movements from here over the mid term until royalty issue is sorted, at which time there should be a significant re-rate.

As a long term investor the royalty issue is just noise and an opportunity at these prices.

Pitt
DYOR IMHO etc