From a cycle point of view the majors look like they are under...

From a cycle point of view the majors look like they are under heavy distribution and may have topped. If the sector is in for a correction plays like 1MC will get hit hardest for the below reasons.

1. No project in there own right
2. Capital structure is a mess (should consolidated as a pa
rt of the DOCA)
3. If the sector turns down capital will be harder to raise
4. Earn ins require continual expenditure to keep on foot, see point 3
5. No definite resources in ground

Noting the SYA link they should pivot to gold for the 1MC shell, most punters here will be gold bugs in 23 once the gold plays all run a few hundred percent from where they are today.