cat
Agree, both have potential, but you can bet that existing players will not be expanding production until the worst is over.
example: POT
- cost of capital is enormous (eg POT ~75% off its highs).
- always rationed production to ensure prices remain high.
Agree that capex is light and lead time short. Advantage of collapse in hard commodity production is that prices in contracting should reduce.
insitu resource value $15billion for lake d, page-17
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