The elastic band is becoming stretched within the Resource Sector, last Friday we looked at nickel and iron ore as underlying commodities and this not surprisingly flows through to related stock plays, if they go a bit further MM might be pressing the switch button:
- IGO Ltd (IGO): Nickel & lithium producer IGO is following the price of the transition metal higher, our target of new highs for 2021 is approaching fast.
- Mineral Resources (MIN): This iron ore and lithium miner has plunged 40% from its July high and importantly its now in an area where MM sees value. Yesterday saw it climb 9% after announcing its Wodgina joint venture would restart courtesy of higher lithium prices.
MM is considering switching nickel exposure to iron ore
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