This is a joke!, page-95

I first began tracking this stock in 2016. The share price was 80c+ following dramatic growth. I thought there was a degree of mania around lithium companies and said so. Since then, PLS has obtained all the required permits for mining and processing, funding for mine and plant construction, a number of off-take agreements, the near completion of the stage 1 plant and a contract to provide raw product for shipping by Atlas. The price is again 80c+ but this time there is something definite and substantial behind it.
In January, I calculated that, based on a spodumene price of US$537/t for 2Mtpa of SCO6 product from stage 1, the company was valued on a PE of 12.3 with a share price of 102c. This took no account of any stage 2 activity. Given that the company was still to begin production, this was a reasonable price with some optimism involved but I felt that the optimism was fair, given the very postive DFS for stage 2.
I have not established the current SCO6 price but the company has moved forward since then both to begin production and to commit to stage 2. It is also actively pursuing vertical integration with a JV for production of battery quality Li hydroxide and carbonate. This activity adds some risk to PLS but also provides avenues for revenue growth.
If the company was worth paying 80c for in 2016 it is well worth paying the same today. The risk has been reduced greatly while the revenue prospects have increased.
Congratulations to everyone who bought in with the SPP last year at 35c.