Good News & Bad News, page-7212

Thanks for the tip @alexanderbbh. Whenever KB speaketh, an ASX Announcement of the current Corporate Presentation is released. So we're guaranteed an ASX Announcement next monday morning.

I'd been hoping for an ASX Announcement to be released early Oct20 but it would seem they always had one planned for D&Ds.

An update of the POSCO situation and a production update is what we're all waiting for. Will be interesting to see the sales guidance as well.

I also agree that the international Lithium major miners have bounced back to share prices, which justify a PLS SP to be in the 60c or even 70c region.

The PLS share register is fortunately very diverse and the possibility of a hostile takeover on a low bid impossible. KB has signalled last year, that he wouldn't accept any offers that value us under $1.20. KB hired corporate lawyers back in 2018 to devise a strategy to avoid such an eventuality anyway. It would be naive to think anyone could come in and launch a hostile takeover for 60c or 70c.

The PLL share price is extraordinary in that such a tiny miner can have a MC the same as a behemoth like PLS. We've even invested some $A300m to build plant and spent the opportunity cost of time and money achieving nameplate production. We have offtake sold out for unbuilt production. All PLL has is an offtake agreement at a low fixed price for 1/3 of their tiny production. They require large CapEx to even get started. Finance yet to be found.

The Pilgangoora Project (PLS and AJM) stands out as the only Tier 1 Spodumene resource (apart from LTR) owned independent of Lithium majors. These 3 companies stand out as takeover targets. $1.50 here we come.

Our "binding" offtake agreements have either been invalidated, or are subject to option agreements. The only valid offtake agreements we have are 75ktpa, 20ktpa and 80ktpa to Yibin Tianyi, Great Wall and POSCO respectively. KB has always signalled he will support our customers ... but his patience must be wearing thin.