Ann: 2020 Annual Financial Report Announcement, page-62

Reading through the thread is very interesting.

It either really shows the level of share investment experience of many people here and how much more they need to learn, OR they are simply trying to influence a sell or post response.Anyone following this stock would have known the report would look like something this. If you didn't and are holding that is telling something and use this as an opportunity to learn more.I think key in the report was to clear the deck as much as possible.

For context last financial year GXY changed CEO and the first thing done was to write down and clean the decks as much as possible. New CEO can then easily quantify positive change and if you look at the latest figures you can see positive quantitative improvement. Very very bad compared to bad makes great work and a great improvement to sell.

Now PLS did not scrub the cupboards as clean last year and left a few crumbs here and there. Now that this financial year is closed off it is most opportune to show some bad numbers. Why? because the market currently sucks and there is no major drawback in doing so. But, the key selling point is that the sector is turning around very nicely. This time next year they will be releasing numbers in completely the opposite direction. The lower the numbers now, the greater the turn around in numbers it will be next year. PLS would want better numbers next year because prices will be higher and more people will be taking notice. The numbers are not just about PLS but how the turn around (growth story) compares to their peers in the sector.

The decks are now clean, June 30 is the past.

These numbers below have been posted everywhere, but I show them again for perspective in regards to what I said above:

Chinese Spod inventory:
May 4.8months worth
June 4.4months
July 3.5months
August I would guess around 2.5 - 2.75months (data on EV sales we know is good in Europe and China. For China auto sales have been getting better each week in August currently standing last week at 23% YoY growth retail and 10% wholesale - we know a growing % of this will be EV)

Therefore, by the end of September China spod inventory should be about 2 months and the commencement of the need to start buying more spod. The only ones that can afford to sell spod are doing so now, so if they are going to want to bring on more supply they are going to need to increase prices. Not going to happen any other way. GXY has full capacity sold, PLS has room to move. Incentives will be dangled price wise to increase production so just think how that will translate in 12 months time. No price increase no spod increase. I would be extremely surprised if spod prices were not growing by November.

Come December holders will be looking forward to a totally different 2021 (bar any unforeseen major world events).Clearing the decks now will make next years numbers look great!

Stay calm, focused and look forward to what 2021 will deliver.

Good luck all and DYOR!