RE:RE:RE:RE:Deep Thoughts on WaterburgMetalcaster wrote: In the time metal prices dove, he placed a bet on whether they would stay depressed, how fast competition would falter and fail, and the shortfalls in supply that havent materialized. He took shareholders on a ride that basically went from SP being $25 a share down to $1 on that bet...
Time will tell.
So ... when Pt prices drops from above $1400 only 2 years ago (2/3rds through the development of Maseve) what would you have done? Had PTM stopped mine development entirely, what would you have said as a shareholder, then? I, lacking current "hindsight vision", would not have been very happy.
As far as Waterberg being a "no brainer", that may depend on whether one expects PTM to mine twice the ounces that their own PFS projects, and/or at half the "all in sustainable cost". AISC is not a metric I expect PTM will be using, anytime soon.
To be clear, I'm not down on PTM, in general. I just have little optimism if the current PGM prices continued. I am (cautiously) optimist for an end of year PGM rally. And if that rally does come through, prices should respond nicely.
We agree that time will tell.