We should always keep in perspective that it is the spod price...

We should always keep in perspective that it is the spod price in 3 years that matters to precise economics. But , given CE trip to Japan to banter with vertical strategics / OEMs , they already place guarantee of supply more important that trying to price pick in a few years time .

yet today’s sellers are shortsighted on the sector sentiment of today , and perhaps rotating sectors. Yet contrarian buying for every seller , recognise the sharp end buying opportunity at the dull end of sector sentiment.

at the end of the day - a bet value will be derived in a few short years from now at the coal face of $$$$ flowing come production. And that is X multiples on today’s investment.

you can lose your money a thousand different ways in the market from those who failure to progress to the finish line.

yet every thing we have seen puts WR1 in the front runner to deliver on its endgame.