Banter and General Comments, page-2551

The main issue I have with this analysis is that PLS and GXY seem to have different strategies. PLS is bullish hardrock lithium and GXY is bullish lithium brines, the competitive differences between the two has come under sharp scrutiny recently as margins have tightened. PLS main competitive advantage will be the ability to ramp up and down production to meet supply, the other factor I like is PLS is investing in Australia with comparatively low political and regulatory risk.

This is why I hold three times as much PLS as GXY and will maintain this ratio as the lithium price recovers throughout 2019