Better businesses at lower prices.
One of the biggest mistakes investors make is allowing price action to dictate their view of fundamentals rather than the other way around.
Even after the recent pullback in metal prices, miners continue to generate margins that would have seemed extraordinary just a few years ago.
Yet many of these companies are trading as if the economics of the business have materially deteriorated.
They haven't.
tavicosta.substack.com/p/fol…
Mining companies today are generating the largest profit margins of any sector in the global economy by far.
Much of the market remains asleep and still analyzes mining through an outdated framework from decades ago.
To be clear:
Miners today are producing profit margins nearly double those of tech companies.
At current metal prices, this environment is absolute nirvana for well-run mining businesses.
tavicosta.substack.com/p/min…
One step closer to cash flow at Drayton–Black Lake (NW Ontario). Historic 1930s rockpiles returned average grades of 3.72 g/t Au (Split Lake) and 0.96 g/t Au (portion of Alcona). A fully permitted mill is open to accepting material; processing testwork underway.
$HML
Why now? Why not? $HML Heritage Mining is in the right place at the right time with its Ontario Project Portfolio. News to come. Stay tuned.
#JuniorMining#Gold
Heritage Mining (CSE:HML, FRA:Y66) - Historic Drilling — Up to 23.27 g/t Au Over 4.5m and 6.85 g/t Au Over 12.35m near Surface at the Melba Project - mailchi.mp/heritagemining/gr…
⛏️ Heritage Mining untersucht ein neues Goldmodell im NW-Ontario: über 70 m starke Quarzader mit anomaler Au-Werte entdeckt! Orogen Intrusion: hybride Strukturen verändern die Exploration nachhaltig. Mehr im Video mit CEO Peter Schloo ➡️ goldinvest.de/video/heritage…
⭐️ @Heritage_Mining: Steht die nächste hochgradige Goldentdeckung bevor?
✅ Massivsulfide im Millennium-Ziel entdeckt
✅ Neue Bohrkampagne in Zone 3 startet bald
✅ CEO Peter Schloo im exklusiven Interview von der #PDAC2025
📺 Jetzt ansehen: goldinvest.de/video/heritage…