Expectations, page-116

vector, wouldn't a metal demand drive inducement smelter pricing if it wasn't being met...I.e. the scarcity premium pass through all the way through would then drive con demand, needing to incentivise new mines to find equilibrium pricing. 8-10 years of tails, surely ncz has enough resource life to pick the eyes out of the next cycle, even if it's delayed a year or two by the factors you specify. If your question is one of valuation, then I think short term market factors over a ten year life are neither here nor there...although the iron grade might be favourable no? if it's one of liquidity, then multiple options available...with primary demand on the rise, it should flow through, otherwise I might need to go back to my economics textbooks.