We discussed MIN last month here, at the time saying a retest of the $50-55 wasn’t out of the question – the stock’s now trading ~6% lower and our feeling hasn’t changed. We like the revitalised business where Mining Services provides the steady base, Iron Ore is the growth engine, and Lithium is the high-risk, high-reward swing factor which has a major impact on the share price week to week.
- We are now adopting a more neutral stance towards the lithium space, having been short term bearish, but feel it’s too early to reboard the likes of MIN.
MM is neutral towards MIN around $60
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