Just bought a ton of SRL!, page-37

I gave up a while ago on SRL but at 71c and $60-plus mill market cap, just ridiculous given the invested capital to get to shovel ready position

it has been ravaged, just like the whole EV minerals cohort by the following:
1. falling underlying commodity prices
2. inflation shock sparking rout in bond markets - much higher yields meant high discount rate for projects, higher cap investment funding costs, flight of capital, higher opportunity cost (other divi paying assets more attractive). This has been the real driver of all speccy prices.
3. Slower pace of EV adoption than the expectations being baked into the market
4. stock specifics - qu marks over cobalt, high capex entry requirements relative to op cost profile, qu’s over management execution etc etc etc

BUT, under $70m mkt cap. 3 percent of NPV for a tier 1, 50 year asset life, superb operating cost profile, highest profile backer from minerals ind, icing on top in potential of scandium, exceptional ESG positioning.

At this price, despite all the doom it’s a no brainer in my view. Only patience required for v large upside, although who knows the timeframe? Downside? - little in my view

i’m back in with a small parcel on friday (no liquidity there; i wonder why?). Will buy more next week