Great geology, very defensive cost structure as Jojo reminds us.
However although Buffet tells us to look for defensible margins, he also advocates getting them at a good price.
Imho WSA is destined to be a great lowest quartile producer, but does that in itself make current sp a bargain? Looking at the battered sp of it's peers I am not so sure.
EL
Discl: Only hold IGO now, but wish I had no nickel atm.
Great geology, very defensive cost structure as Jojo reminds...
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