Good News & Bad News, page-23324

I’m sure we have been told from the company that BMX auctions will no longer be announced (including results of them) but rather they will simply be included in the usual quarterly reports as they are now just part of the business. They may well have already been taking place since the last one was announced.

Of course the true “value” of the auctions is not the sale nor the announcement of the sale, rather it’s the data of who is willing to bid how much for what quantity of spod. PLS continues to gather (and own) that information for every sale they conduct and likely it is used in their ongoing discussions for offtake pricing adjustments and new offtake discussions. Power now shifts to PLS in terms of what is the actual or true market interest in further spod.

While I remain academically interested in the results (and my graphs stand ready to be updated when they can be), I’m more interested in the long game now and I figure the less the news about pricing comes out frequently, the less the manipulators can shift thinking about those results and impact SP. SP should soon start to shift and move based on quarterly results, capital allocation decisions, expansion/diversification project updates and maybe (based on comments made by Dale H today) news of acquisitions rather than little ups and downs in BMX auction prices.