Being a miner is not enough, the particulars of the resource is also important. The good thing is irrespective of whether the downstream hopefuls will be ready to commence or not in 3 months time, the quarterlies of the early starters will show the general profitability of the sector outside of China. It's interesting no body bats an eyelid when quoting China being the primary down stream processor as a sign of limited supply for who knows how long but expect the status quo to change because companies in the spec end start building plants (but not the majors). If the upcoming quarterlies are ambiguous on production and costing, it does not bode well for the sector but is a good opportunity for investors to re-align expectations. Wouldn't mind if they succeed, meaning there's room to grow, though I'm not holding my breath until then.
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