Last investor presentation - 2022- are we there ?Major Drilling makes an interesting parallel between 2006 when the cycle was peaking up with increased base metal budget to satisfy China demand with 2022 where copper and base metal budgets will respond to electrification driven demand.
So are we there ? If you look at tin and nickel trading at ATH and copper at $ 4.57 and in an upswing, one can deduct that exploration budget should increase a lot in the next months. And as gold and silver prices seems to be holding or increasing at levels where exploration makes sense, this means that demand will soak up the rig capacity. Add increased demand for uranium and what the heck, seems to me that demand could outstrip the offer pretty soon.
Do not know when miners will be fighting for a rig, but that day is getting closer and with $$$ flowing in the basic/precious metal at the same time, drillers should be printing $$$ pretty soon.
GLTA