Can anyone shed some light on the following:
Piedmont sold offtake agreements with Tesla in Sept 2020 (worst spot price on charting). Though the sale price was not listed. Li spot price has significantly improved since then.
INR has not yet arranged offtake and is in a far better position regarding high price negotiation.
PLL net assets to 31 Dec 2020 was $80M
PLL market cap is ~1.5B
We are further along regarding permitting and I understand PLL is doing some DFS studies in due course.
INR market cap $800M.
Not sure if its the "Tesla" sale hype or if PLL is just overvalued. But INR appear to be undervalued based off the above information. Perhaps I am wrong. I do understand that the capex we need of ~$800M is no small amount but we would then be able to process our own and potentially others Lithium raw materials.
Clay to be stockpiled as a possible "cherry on top". Better mining jurisdiction and closer to Tesla. Opex will be lower than PLL with boric credit.
Scratching my head on this one. Perhaps the buckwheat is still scaring people, fortune favours the brave I guess...
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