Sorry we crossed our wires as that definitely wasn't how I read your postWhile I agree it is not impossible, I certainly cannot see the government issuing a one-off deal for MIN, especially after all the backlash from the McGowan-Stokes deal.
Re the price drop - In the midst of all the lithium shake-up yesterday, I did wonder how all these mining projects being reduced in scope or put in care and maintenance mode will impact future gas consumption. Perhaps that's part of the reason for the sell down today? It will be interesting to see if the 50% retracement at 43.5-44c will hold. If not, a retest of 61.8% at 42c is very likely IMO.
The one thing that is as certain as death and taxes is the boom-bust cycles of resources. It is often at or near the bottom when there is blood on the street, and there is certainly blood on the street when some commodity prices are near or below the unit cost of production, leading to widespread shuttering of projects and choking supplies. Just how long this phase will play out is anyone's guess but history has demonstrated time and again that these are good times that produce outperformances over the medium term![]()
Similar to my positive long-term views in the growth of WA mining sector, it goes without saying that I am also positive in the long term growing demand for gas. As such, I have topped up in STX today, along with MIN and PLSThis is not a bottom fishing exercise (as I don't have a crystal ball) but my standard practice of buying when I believe there is more upside than downside risk over the medium term.
PS. A shout out to the shorts who have made a mint on the likes of PLS and SYR
618
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