In a previous article, I revealed that my favorite natural resource play is the low-cost, growth-potent producers run by entrepreneurial management. Specifically, I am attracted to such businesses by the following qualities:
- The land package that hosts the concerned assets must be so richly endowed that reserves can be found, appraised, and developed easily and inexpensively. Once developed, the production can be sustained cheaply and operated at low costs, which means the necessary infrastructure has to be available lest the reserves be stranded. Additionally, there must be plenty of reserves in the