"I genuinely don't think most of them do know this shipping stuff Ash68."
The level of delusion in this comment is hard to comprehend. Sophisticated hedge funds with high frequency data cant track the shipping of a company that is publically available information? They circa a billion on this trade.
They know exactly what the shipping data is.
The shorts, are betting on deteriorating fundamentals across both Iron Ore and Lithium. MIN is a prime target for this investment thesis because of its high leverage, T2 Asset quality, Governance issues high liquidity. So far they are correct.
Those on the long side (me) have the view that Iron Ore and Lithium will rebound, and MIN will be able to reduce its leverage before it gets into financial trouble.
The current ramp up of Onslow is critical to the deleveraging. However, we are in a race against the clock with Iron ore price. The outlook continues to get worse.
MIN Price at posting:
$22.67 Sentiment: Buy Disclosure: Held
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