speaking of IO - I'm surprised I haven't seen you over...

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Marasco

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10/01/24

18:55

Post #: 71819086
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Originally posted by Exised: ↑

Agree re copper. If I had to do it again and we were at the commodities nadir (2015/16), I'd probably have a more Fe centric mining portfolio rather than Cu centric. That whole Green Energy, Low-carbon and Electrification (vehicle or otherwise) narrative got me hook line and sinker...

I've lived through a couple of commodities boom the last 20+ years of investing. It has been the same story for Cu all along. There is always a bullish case for Cu (and Au) but never the run that you want. At least when Fe runs it runs, none of this Copper price Cha-cha (3 steps forward, 3 steps back then sideways, rinse repeat)

No such shenanigans in bulk mines (IO/Fe). If I had to complain about Fe, getting the mine/plant online in the first place is the main bottleneck. Case in point would be my IO cornerstone FMG. Iron Bridge was 1 year late and $US1.3 billion cost blowout. I used to shiver whenever I think about it but all good now that it is up and running. Maybe that is just how things go in building mines these days Fe, Cu, Au, Li or otherwise because S32's Hermosa looks to be following the same impairment then cost blowout extravaganza and that is definitely not IO.

The price we pay for investing in the mining neck of the woods...

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speaking of IO - I'm surprised I haven't seen you over at MIN...

RIO Price at posting: $128.90 Sentiment: None Disclosure: Not Held
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