“The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.” – Warren Buffett
Investment thesis
Ivanhoe Mines Limited (IVN.TSX) ( OTCQX:IVPAF) holds three world-class mines in Africa, with enormous mineral resources, incredibly low costs, and attractive economics. The small-cap firm is run by an executive team led by the legendary mining tycoon Robert Friedland, which has a proven track record of shepherding giant mines in difficult operating environments to production.
The company is reckoned