MIN has corrected over 30% from its January high courtesy of lower Lithium chemical sales, delays with expansion projects, weaker realised pricing and softer mining services volumes and now iron ore is struggling around $US100/mt as Chinas economy threatens to embrace deflation as opposed to growth. However, we continue to believe MIN is starting to present excellent value as the news flow continues to create short-term headwinds.
- We are considering increasing our exposure to MIN into further weakness – MIN reports on the 29th – as shown on the MM Reporting Calendar
MM is long and bullish toward MIN
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