In short: Diagnosing the recent bump: "the market saw the performance of the Kipushi zinc mine… the performance in Ivanhoe had much less to do with copper, where the news was bad by the way. But the news from the zinc mine was pretty spectacular" — the more so given the DRC transport burden, with the provincial governor controlling trucking and blocking rail shipment ("we do that in the states too before we get too self-congratulatory about it").
Ivanhoe operates in the Democratic Republic of Congo and is usually thought of as a copper company. Its shares jumped roughly 20% in a week and the host assumed copper was the reason. Rick's correction is the useful bit: "the performance in Ivanhoe had much less to do with copper, where the news was bad by the way. But the news from the zinc mine was pretty spectacular."
The zinc mine is Kipushi, and he rates the quarter's results all the more highly because of what they overcome: heavy transport costs, and provincial politics in which the governor controls trucking and blocks the cheaper option of shipping by rail. (He declines the easy moral: "we do that in the states too before we get too self-congratulatory about it.")
It's an explanation of a share move rather than a recommendation — but a reminder to check which part of a diversified miner actually delivered.
40:48I think what happened with Ivanhoe is that the market saw the performance of the Kipushi zinc mine. I think the performance in Ivanhoe had much less to do with copper where the news was bad by the way. But the news from the zinc mine was pretty spectacular. Spectacular particularly given the transportation charges that Ivanhoe has, the local politics, which is to say the governor of their province controlling trucking out of the province and blocking the ability of Ivanhoe and other people to ship by rail.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.