The problem with investing in mining lately was not geology but that resource prices fell by a lot (due to supply catching up with, or outpacing demand).
Imagine if IT products halved in price. Estore would likely be bankrupt.
I too underestimated how far iron ore would fall from $120 to $50/t in under a year, if I remember. Even holding a relatively low cost producer doesn't help much. Even the lowest cost producers get hit hard.
