With commodity prices it is hard to see what will happen down...

With commodity prices it is hard to see what will happen down the track. Developing mines indeed have a risk of missing out on price spikes. There are currently a number of wannabes where the dirt in the ground is worth xx amount of dollars at current pricing - but by the time of production the pricing may change substantially - sometimes up. Also at the mercy of exchange rates and as you say cost blowouts, ramping production, shipping, wage increases etc. IO prices have savagely retreated from it's highs, though appear to be slowly recovering, whilst other commodities like copper and in particular zinc has increased substantially during this year. Lithium and graphite both increased in pricing also, though unless you're producing already, the price points will change by the time those companies monetize.

IMA is not immune from risks but is in a rather enviable current state capitalizing on price increases for the commodities it produces though tempered by increased costs. I don't hold BSE but they have paid over 10c in divvies in the last 2 years which on its own is around 30% on current sp - pretty nice (though may not be replicated for the following two years) - whilst as far as I'm aware, mining in Africa without major issues for some time - but Madagascar providing challenges. However, both companies have challenges and thus good and not so good - prospects for IMA currently look attractive - though some may see BSE similarly. AIMHO