Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, thanks for your informative and useful market insights. Just wondering about your thoughts on Chalice after their dramatic share price fall over the last six months (SPP @$7.30 in May) and now at $1.40. Their assets seem to be good with regular upgrades, is the share price fall simply a reflection of outlook on commodity pricing, with both Nickel and Palladium also being smashed over this period. Do you think value is emerging here? regards, David
Hi David,
Like a number of ESG facing resource stocks its been a really tough period for CHN, another classic case of don’t fight the tape for this $640mn business.
From a trading perspective, we could easily see the stock rally 20-25% back towards $2 but at MM we are investors hence our preference is for established operators, companies like ~$6bn IGO Ltd (IGO) or $11bn Pilbara Minerals (PLS) which makes a profit that have also more than halved from their 2023 high.
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