Canadian-based mineral explorer Trilogy Metals (TMQ US) more than doubled as investors bet Donald Trump’s election win would clear the way for Trilogy and Australian partner South32 to develop a critical minerals project in Alaska. Unfortunately, TMQ is only a $250mn minnow compared to S32’s market cap of $17.3bn, but we did think/hope its footprint would deliver a better day than +1.9%. However, that was the story of the day—“God Bless America.”
- We remain bullish on S32, initially targeting a test of $4 – MM is long S32 in our Active Growth Portfolio.
MM is long and bullish S32
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