I recall the Sphere's situation. I was once a holder for a short...

I recall the Sphere's situation. I was once a holder for a short time during the IO boom years.

What it shares with NKP is a risky geography not physical location.

However, IO unlike Platinum I suspect has less capex spending generally speaking. It is basically a infrastructure in place, dig and ship, no need to process and from memory Sphere's resource is Haematite. They had all that boom and China's hungry appetite for IO to persuade Xstrata or was it Glencore that took them over. Fast forward 6 years I don't see the same conditions. I don't put much faith in PL beside his GOB on his face.