Just doing some wistful faraway envisioning with Glencore's...

Just doing some wistful faraway envisioning with Glencore's latest update. We know that JRV knows how to do it and that's why they are there and if they can just become a fraction of Glencore in the next predicted commodity supercycle...

"Glencore (OTCPK:GLCNF, OTCPK:GLNCY) reported its operations performed largely in line with guidance last year, with copper production falling 5% Y/Y as expected to 1.2M metric tons, reflecting the sale of its majority stake in Zambia's Mopani mine to the government.

FY 2021 cobalt production rose 14% Y/Y to 31.3K tons due to the limited restart of production at Mutanda - the world's largest cobalt mine - in the Democratic Republic of Congo, but the company had forecast output of 32K-38K tons.

Glencore also reported a 3% drop in coal output in 2021, a 4% fall in zinc production, a 7% decline in nickel production, and a 43% jump in ferrochome output, mainly due to the South African national lockdown in the prior year.

The company expects flat production for most commodities in 2022, except for cobalt and coal, whose volumes are likely to increase significantly.

"Glencore remains in a very strong position with high free cash yields (2022 base case of 21.9%) driving high cash returns," RBC analysts say in reiterating an Outperform rating on the stock.

Glencore's commodities mix makes it the top pick among diversified miners"