I’m putting an AVOID rating on Mineral Resources ( $Mineral ...

I’m putting an AVOID rating on Mineral Resources ( $Mineral Resources Ltd (MIN.AU)$ )….Net debt has doubled, at a time their LITHIUM mines are making no money and their higher cost IRON ORE mines puts them in a real pickle if prices fall 20% to 30%. MIN seriously needs to fix it’s balance sheet so will either have to do a heavily dilutive capital raising or sell equity stakes in some of their mines – pick your poison.