I want to say one more thing. It doesn't matter how many Electric Vehicles you make or how many lithium battery powered drills you make, if there is no demand, you will not sell them. Period. THE DEMAND IS NOT WITH US YET. I have been saying this forever. Use any rally in the SP to sell your shares. There will come a demand but not for a year or two or three. And MAYBE by then the stupid miner companies will have their act together which once again will cause the stock prices to NOT move much because there will be many more companies in production than there are now. If you want to scalp rallies caused by fake news then I completely agree with that. It is a free country and last I knew we can espouse our inner most feelings about stocks freely. Positive or negative toward a stock. IHUB is a great place to do so.
I am sorry to say that ALL the mining stocks are under severe pressure. The only think that sent them into the recent rally is fake news. The first and biggest "claim" was that Bidens Green Crap Deal was supposed to send trillions into the ore miner space. NOT HAPPENING according to Investors Business Daily. The proof that this is not happening is baking into the stock prices of the industry group. There may be a stock or two that is holding up but the second fake news was that there is a shortage of Rare Earths and an on coming shortage of Copper and Steel and Iron and other basic minerals. TOTALLY FALSE! Here is a quote from IBD...
"We see many catalysts for a decline in copper prices in the coming months," BCA Research wrote in a Jan. 18 report, while still touting long-term copper fundamentals. Similarly, the surge in steel prices has reflected "a shortage scenario" that's on the mend, KeyBanc analyst Philip Gibbs told IBD. Global steel demand has recovered to about 95% of pre-pandemic levels.
Many mineral mining companies better get their shit together because their SP is going to crash. Best have a plan.
Just looking out.
Peace
AI
