Morning Guys, There has been some strong performance across the...

Morning Guys,

There has been some strong performance across the sector in recent months - in particular the SPV's that hold U (UPC and YCA).

Select miners/ developers are also performing as the narrative, carried by missionaries, is spreading.

I am also seeing positive sector developments increasing to a near daily level, both on the supply side and the demand side.

Tribeca and Paradice have been active in the Australian sector and MS was buying a lot of PDN in recent days (thanks Ferras).

Without wanting to jinx anything, I get a sense that in a commodity market beaten into submission, U may be providing an attractive refuge for long only, commodity focused investors to make money. Institutional money is now flowing into the sector and momentum appears to be building.

Cheers
John