Wodgina just sold 50% for $1.6bA, page-25

ALB traded flat after an initial dip which tells me (so far at least) US punters don't think ALB overpaid. Otherwise their valuation would have dropped as it wasn't a good acquisition.

We absolutely have to re-rate though. Think about it this way. CE just inherited $1.6m in cash, he keeps $500m to pay for infra at Wodgina and he offers KB $1.1bn for 42.5% of PLS to bring them up to 50%. That values PLS at nearly twice what it is trading at today and CE would be replacing what he just lost, with possibly an even better resource and keeping $500m in cash.

MIN was valued at $2.3bn including cash and IO assets and ALB has just valued Wodgina at $3.2bn

Serious disconnect in markets and if we don't re-rate, along with AJM and TAW then consolidation is absolutely not over in WA hard-rock. The only real defense against being swallowed at this point though is a rising share price.

Maybe this will be enough to get insto's and analysts interested.