After our recent portfolio restructuring MM are now clearly underweight the Resources Sector, a stance we are comfortable with for now, but we do like having some well laid plans even if they are longer term in nature. We like this nickel miner which as a business is looking to move further towards energy storage i.e. an excellent ESG proxy into weakness, its already corrected over 11% from this week’s high but can easily imagine a repeat performance on the downside hence while we like IGO MM believes its time to be patient.
MM currently likes IGO around $10
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