Seasoned metals analyst and investor with 10+ years of sell-side and buy-side experience. Views are my own.
Mar 7, 2022 • 4 tweets • 3 min read
Recently #commodities are reflecting a knee-jerk reaction to the conflict b/w Russia and Ukraine, but it's the longer-term neglect that's created the foundation for profoundly higher prices for longer.
Let's look at exploration and capex for industrial metals.
Short thread.
1/4
Global exploration budgets for #copper, #nickel and #zinc peaked in 2012 at $6.4B after a run in commodity prices, surpassing 2008 high of $5.2B. As prices fell from the high in 2011, exploration spending cooled to an avg. of $2.7B/yr since 2015.
2006-2015: $40B
2016-2020: $13B
Feb 10, 2021 • 21 tweets • 8 min read
GoGold, a compelling acquisition target for First Majestic
$AG $GGD.TO
As per KN’s recent interview (w/ MSE), FM currently considering M&A. Looking for “bigger things”, scouring world for “chunky assets” & maintaining silver focus. “Finding good silver mine v. difficult”.
1/21
Let’s explore.
FM’s goal: To become world’s largest primary #silver producer. Silver reserves ⬇️ & silver % of rev ⬇️. GGD offers immediate pdn at Parral (>2Moz AgEq/yr) and its crown jewel, Los Ricos, a HQ dev’t project in Mexico, wd substantially bolster FM’s pipeline.
