We're diversified by commodity and location. If one metal doesn't have a good year, we'll make a good profit off a different metal. If / when China and the world economy rebounds, and when electrification needs really start to bite, all commodities will have a grand old time. Then there's the development pipeline with Hermosa front and centre. With no exposure to iron ore or thermal coal. There's nothing like this (a top 50 in the world diversified base metals company) on the ASX, unless you count 29M (I don't).
You're right that Hermosa is going ahead. At least in part. We've got, what....four or so different potential independent mines/projects in the Hermosa development. It's probably well over-budget and time delayed, but in the scheme of things -- when it's up and running -- we will have long forgotten the budget overrun. Hopefully FAST-41 will guide us through any indigenous issues / locals objecting to the project and possible court challenges and other nonsense. Importantly it will be self-funded. I don't mind foregoing a dividend and a temporary increase in debt. We are not at the mercy of off-take partners and sourcing funding -- the frustration involved there is something any small cap mining investor would be all too aware of.
On days like this, I like to login to my shares account and buy a small parcel at the maximum of the lowest brokerage range (if that makes sense...). Average down a couple of cents! At $3.25 - $3.30 we're at a two year low. I've been really hoping it would keep dropping to $3.00; as sacrilegious as that sounds! I know exactly how many I'll buy at that price, and at $2.75 or $2.50. The lower it gets, the more / more often I buy.
S32 Price at posting:
$3.41 Sentiment: Buy Disclosure: Held
(20min delay)