FWIWTin Foil Hat time.
My guess to the breakout in copper / commodities. Oil, Russian oil really has not been taken off the market, until now. (Drones hit additional Russian oil refineries) All commodities just got more expensive. The break-even point has been raised on both new and existing projects. I did a sensitivity study last year on a basket of miners (copper) relative to energy inputs. Was like a cat chasing its tail. As marginal producers fell out, the supply demand changes resulted in higher copper prices. Which kept the marginal producers in the game. Too many unknowns to pick a set of numbers, but it did spell out a general concept. To me copper (the chart) was not yet ready for a breakout. Yet here we are.
The story plays out rather well for Ivanhoe.
Also good to read that some long-term holders are selling a few shares. That will need to happen for us to move north of here.
GLTA