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Mineral Resources Ltd (MIN) $14.40

Holding MIN has been a long and arduous journey for MM, although looking at overseas markets, it should bounce strongly this morning. We caught this falling knife too early, although interestingly, for all of its deluge of negative news from Chris Ellison to worrisome debt levels and bad roads, it’s fallen in to a similar degree as global giant Albermarle. The company only generates ~26% of its revenue from Li, but with iron ore “on the nose” on economic concerns around China, it found itself in the wrong place at the wrong time.

  • We like the risk/reward towards MIN around $14 following its 85% decline: MM holds MIN in its Active Growth Portfolio.
MIN
MM is long and cautiously bullish towards MIN
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Mineral Resources Ltd (MIN)
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