MIN provides investors with an unusual revenue stream from lithium 40% and iron ore 45% plus a smaller ~15% portion from mining services. The current decline in the lithium price is weighing across the sector from Pilbara (PLS) to IGO Ltd (IGO). While we believe the stocks are closer to their destination than their departure point, we believe it is too early to step up and start buying.
- We like MIN into weakness but are conscious that the lithium stocks remain extremely “heavy”, i.e., we will be patient with any additional buying – we hold MIN in our Flagship Growth Portfolio.
MM is a keen buyer of MIN under $65
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