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Does MM like Chalice Mining (CHN) as a renewable play?

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    Does MM like Chalice Mining (CHN) as a renewable play?

    Hi James and Team, Just wondering whether you could revisit/update your thoughts on Chalice Mining CHN (your previous comments 10/9 focussed more on it as a gold play) I am more interested in it's potential as a renewable resources play ..I notice that it made what appears to me to be an impressive presentation to the Australian Nickel Conference on 5/10/22 and at the same time Goldman Sachs has increased its holding from 9.3% to 10.3 %..? Worth another look as a renewable play (given Lithium appears to be very toppy or is it still in the too hard basket ? Many Thanks Don

    Answer

    Hi Don,

    I’m sorry but at the moment we’re not inclined to add CHN to a renewable basket, it remains relatively close to its 2022 lows while the likes of IGO Ltd (IGO), Pilbara (PLS) and Allkem (AKE) test / make fresh all-time highs.

    Regarding Goldman’s moving up their holding, it is unlikely that this is actually Goldman’s, it would be a client of Goldman’s who use them as a custodian of shares.

    At this stage of its cycle we believe it needs to deliver on its grandiose ideas before MM is likely to become a buyer, for nickel exposure we are happy with IGO which we still hold in our Flagship Growth Portfolio i.e. were not saying never just not for now.

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    Chalice Mining (CHN)
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