LLL vs A11 vs CXO vs LTR, page-13

Share price has been underperformed for a long time, lots of retail investors exited over last two weeks, Comsec led the dump with net 6.2m shares. Top 5 institutions bought net 12m. GS sold 3m as they are bearish since last June.


Spodumene concentrate price continues recovering today, US$40,60/t, bodes well for upcoming DSO shipping.


China's new emission standard 6B will take effect from July 1, 2023. The latest monthly report, approximately 95% of new car sales already meet the new 6B standard. , this new standard will primarily benefit NEV sales.

China NEV sales in the first two weeks of May 2023 have shown substantial growth. Retail sales are up 101% year-on-year, while wholesale sales have increased by 69% compared to the same period last year. Additionally, there has been a 17% and 13% increase in sales compared to the previous month (1-14 May, which included three national holidays). This significant growth in NEV sales for May suggests a continuing trend, especially as the second half of the year typically experiences strong demand for new car sales.

Also China spot lithium carbonate price is recovering fast, as I said, it dropped over 70%, and likely to bounce over 150% or more. current spot lithium carbonate price is around CNY 280,000/ton (~US$40,000/t). I won't be surprising if China spot lithium carbonate price bounces back to CNY 400,000/ton over coming months, as the demand from both NEV sales and energy storage  is growing.

Simon said, the mining activities to start next month. DSO is currently scheduled in Q4, 2023, possibly bring forward to next quarter, so only few months away from first revenue.

Looking forward to today's AGM.
All imo.