RE:I believe Forbes also mentioned that Freeport-McMoRand Tops,
That Forbes article is from March 12, just as the entire world was preparing to lock down. They noted the coronavirus, and predicted it would dampen demand, but didn't understand the full impact. There are also a couple of doubtful assumptions. They predicted an easing of US-China tensions. Nothing could be further from the truth. The animosity, a rare bipartisan Congressional consensus, is growing by the day. The article also predicted high EV sales. Consumers need money to consume. If they don't have any, they're not buying.
https://www.forbes.com/sites/greatspeculations/2020/03/12/is-freeport-mcmoran-set-to-capture-50-of-the-copper-market-by-2025/#74d5939b7d75
The truth is global economic growth, although impressive, was always fueled by high levels of debt. Chinese banks are already leveraged to the hilt. And US GDP growth averaging 2% is lagging far behind national debt growing at 5.5% annually since 2002. Many states are on the verge of bankruptcy. The total bill for coronavirus will be in the trillions of dollars, and that's only at the US federal level. In my opinion, the stock market has abandoned any concept of moral hazard. The bill is going to come due. It's an illusion to believe the government can keep printing money without consequences.
I'm not a gambler. I seek out those rare situations where The Mining Story lines up with fundamentals. It doesn't happen too often. Contrarian stated that NPV often fails to unlock value. In the past, he evaluated energy projects. I wonder what he thought when WTI dropped to -37$ barrel? In January there was only one direction for IVN to go -- Up. Now, the world has changed.