Yes, I agree with that. But, why were low grade IO miners in the green yesterday? Markets are smarter than that, this drop will be no surprise to the big players.
What I suspect is the apptite for low grade increasing as emission restrictions lift thus the higher grade IO is far less attractive at such a premium. That being the case, I would expect high grade price to drop or trade sideways until the low grade discount gap closes. Then, the high grade price can begin it's next leg up.
All pure speculation, obviously.
Thoughts?
Yes, I agree with that. But, why were low grade IO miners in the...
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