Many of the factors driving Mincon’s earnings are now pointing to the upside. Peers are flagging a very strong Q1, with positive trends in consumables. In addition, miners’ capex seems to have finally bottomed and is expected to increase in the coming years. Currency has also finally become a tailwind after several years of negative effects on earnings. Risks to earnings now look very much to the upside. With the stock trading at a large discount to peers, we believe the company and the shares will have a good 2017/2018. Mincon’s full-year results are due on March 21st.
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