Mining Is Hard: Accident Sends Stock Price Down, Metal Price Up

One of our Portfolio’s core positions just illustrated three things about commodities mining:

1. It’s a very tough business, in which bad things can happen without warning.

2. A sudden speed bump can hit a miner’s stock price hard.

3. A commodity’s price can jump in response to trouble at a single mine, thus illustrating the value of both diversification and physical ETFs.

Here’s the story, in four recent press releases: