Manganese basket up 384% for the year!
Manganese was our best-performing equity basket in 2020, followed by Downstream (194%), Graphite (163%) and Brine Lithium (158%). The worst-performing basket was Nickel (down 6%). Some Hard Rock lithium developers were laggards, but the producers rose on average over 200%. Investors may very well be wary of looking further at stocks after a 200-400% rise in a year but it’s notable that most small cap developers in battery materials were oversold prior to the current rally. I would suggest that this recent rally effectively brings small cap stocks back to fair value for this point in the cycle and, given...
Topics
Cobalt
Copper
Downstream
Graphite
Lithium
Manganese
REE
Vanadium
