So where does all this put Bateman as a possible investment?
We are a diversified play on almost the entire Minerals & Metals market.
True, you might say, but so are diversified mining houses like BHP Billiton, Rio Tinto and Xstrata. Of course they are, they are great companies, but we offer an interesting alternative, because of some fundamental differences between us and them:
we don’t sink billions of dollars into the ground or make massive capital investments in process plants.
We are not exposed to spot prices. The value of our business doesn’t move with spot prices. We depend on long term investment programs made on the basis of long term price expectations.