Brian Laks from Old West on Tin's Alpha Potential
Brian Laks, partner at Old West Invest Management, discusses the bull case for Tin and why he thinks the world's largest tin miner, Alphamin, could present an alpha opportunityi.Brian's first appearance on Uranium and NXE: https://twitter.com/AndrewRangeley/status/1434879061961019396?s=20Tin market bull case video mentioned: https://www.youtube.com/watch?v=4Ro8uCD10-wChapters0:00 Intro2:20 Tin market overview4:00 What drives the structural increase in tin prices?7:25 Is there an alternative for tin?13:25 Tin supply dynamics20:20 What would it take to bring new tin mines on?24:40 Marginal cost of tin supply30:30 Why is today's tin price right versus 2019's?35:15 Alphamin overview41:10 Alphamin's expansion project44:50 The strategic review process52:00 Capital allocation and Alphamin's dividend58:45 Tin's terminal value versus coal1:01:30 Could China buy Alphamin?1:07:00 What happens if Alphamin doesn't sell?1:12:40 Why is the strategic review taking so long?1:16:15 Closing thoughts