Alberto Alvarez: Uranium, Ero Copper, and PGMs

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Mar 22, 2024

The podcast delves into the world of commodities with a focus on uranium assets, Ero Copper, and Platinum Group Metals (PGMs). Discussions include transitioning from uranium to copper investments, marketing strategies in the mining industry, analyzing investment opportunities, and exploring the future of PGMs. The conversation also touches on investment opportunities in metals and royalties, engaging discussions on Substack and Twitter, and ends with gratitude and sponsor ads for financial services.

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ADVICE

Prioritize Experienced Management

Vet management experience and sector-specific track records before trusting promotional narratives.
Prefer presentations focused on project specifics rather than long macro-metal slides as a red flag for marketing over substance.

ADVICE

Prefer Developers Over Explorers

Avoid explorers if you need reliable leverage to metal prices and instead favor developers who will actually go into production.
Most multi-bagger returns came from developers rather than pure explorers in Alberto's experience.

INSIGHT

PGM Market Tightness Is Reasserting

Deficits in platinum are becoming the norm and palladium deficits may re-emerge despite some forecasts of surplus.
Forecasts that ignore production cuts or Russian market changes risk underestimating future tightness.

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Alberto is one of the most underfollowed accounts on Twitter/X. He provides tremendous value for generalist investors willing to hunt in commodity markets.

This week, Alberto dove deep into uranium assets, Ero Copper, and the bull case for Platinum Group Metals (PGMs).

I'm a huge fan of Alberto's Substack, which you can read here: https://albertoag.substack.com/

Also, make sure to follow Alberto on Twitter @AAGResearch

Finally, a big thanks to the following sponsors for making the podcast a reality.

Mitimco

This episode is brought to you by MIT Investment Management Company, also known as MITIMCo, the investment office of MIT. Each year, MITIMCo invests in a handful of new emerging managers who it believes can earn exceptional long-term returns in support of MIT's mission. To help the emerging manager community more broadly, they created ⁠⁠⁠⁠⁠⁠⁠⁠⁠emergingmanagers.org⁠⁠⁠⁠⁠⁠⁠⁠⁠, a website for emerging manager stockpickers.

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