…onditions. Through this process, mining migrates ever closer to the cheapest underlying conditions. It’s an incredible spectacle of pure free-market dynamics.
…portant and under-appreciated time component. The key distinction between an SoV and MoE is that an SoV is a MoE in the future. To invest in the future optionality, investors today must have confidence that investors in the fu…
…o cash flow, no preferential rights, no dividend stream and no pro rata share of liquidation value. Money is not a productive asset.