Spodumene Prices, page-4061

BHP went from $40 in 2011 into the $12's in 2015 if you look at a chart.
PLS making good profits at the moment?
SMM has Australian spodumene 6% CIF China at US$930/t.
Someone posted Platts price chart showing US$850 here a couple of days ago.
PLS discount about 13% compared to SC6 price based on prices they quoted in the June and September quarters.
If using US$850, then PLS may only get US$740/t taking discount of 13% for SC5.3 vs SC6 into account.
CIF operating cost should be around US$600/t with lower royalties.
So operating margin perhaps US$740-600 = US$140/t.
With annual production at 680 000t x US$140/t margin / exchange rate of 0.68 less tax 30% = A$98m operating profit after tax.
I don't think $98m annual profit is "good" profits for an $11bn market cap company. Maybe add more profits from interest on cash, but even then taking cash balance into account, PLS still looks expensive to me.
This is an annualised estimate current spot prices.
H1FY24 profit may be around A$400-500m, but H2 will be much lower. Maybe $50-$100m with current spot prices.
This makes little difference to many people as each has their own idea of what is good, bad profits, high/low share price.