A Billionaire’s Perspective Robert Friedland is one of Canada’s most respected and successful mining entrepreneurs. In April 2021, he appeared on the podcast entitled:
Greening The Global Economy: Q&A with Robert Friedland and Josh Crumb.
https://www.youtube.com/watch?v=71IfSXztWFk
On that podcast (at minute 42:00) he comments on the iron ore resources owned by Abaxx, saying: “they had an $800 million valuation during the last iron ore cycle”, and “it is an enormous resource that has to be looked at very carefully”.
The current iron ore cycle has average prices that are higher than the last. And yet the current management has stated: “the Company does not believe that the LabMag and KeMag iron ore assets have material value at the present time”.
So who should we believe? One of the country’s most brilliant mining entrepreneurs or a management that has totally failed to deliver on its stated goals.