Schu, I am bullish on a recovery....things will turn around...it is not the first time we go thru a resources downturn...this one is like the weather a bit more extreme....
I could understand arguments about the future of Coal and oil with renewables... But base metals?!...is their an iota of evidence that humans can replace steel...copper...zink...etc....none.... New plastics and graphine could have a place...but when China starts building the new city for a 100 million people as reported by the media today....what would they use?...mud or hay?....neigh....they ll need every pound of aussie and brazilian iron....
All the negativity around commodities is coming out of major banks...because they make more money from shorting than investing...and naturally many brokers, politicians...and resources CEOs jump on their band wagan..
Ann: Quarterly Activities Report, page-6
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