Sames applies. TON is a long way away from development. In that article Bromby also wrote.....
"Last month Glasenberg attended the opening of a new $589 million shaft at the company’s Ernest Henry copper mine in Queensland. In an interview with ABC Rural’s Virginia Tapp, he had this to say of Glencore’s global strategy: “We like buying other people’s operations that they’ve developed … we think we can buy them cheaper than what it costs to build them.”
Does that sound like a man getting ready to build a new mine, in a new commodity, in the depths of Mozambique?
Here’s something else that does not add up. While Glencore is big into vanadium, it has no experience with graphite. Is it going to start up a graphite division? That would be a huge commitment given that the graphite exploration space looks increasingly like the uranium bubble in 2007 when more than 250 ASX-listed companies claimed to be looking for yellowcake.
Moreover, graphite is not just one of your dig-and-ship commodities. This was shown during the week with what Pure Speculation considers one of the most significant developments for an Australian graphite company."
Anyway, no harm in dreaming.
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