Sersadag, you are completely wrong, I still hold many, but I did sell about 85% because I saw the dump coming. I will buy back at a time I deem appropriate, as I believe in the longer term there is plenty of coin to be made here, but there will be pullbacks.
There are a lot of people on this forum that are so precious about their investments. They never question anything at all when things should be questioned, all the time. Managements make mistakes. The management here have made quite a few, but despite that the stock has had a stellar rise. it went too far too fast, and there seems to be a lot of people unhappy with a simple pullback, and anyone that suggests that there could be good reasons for it.
PB, your right there could be any number of reasons why PLS don't have the permit. I have no idea why but suggested a few. Isn't this site meant to be about discussion? Or is it just for those that say nice things? ForestGump's reasoning sounds like a logical one.
FG do you have experience in this area and if so, then how long will it take?
As the tailings dam is nearing completion, or as the quarterly states... "and construction of tailings dam well advanced", then if what FG states is true they will not be wet commissioning by the middle of November. By the time it's finished, the expert signs off, gives it to govt department, for them to 'process' it before handing it out, it will take longer than 2 weeks.
As someone that has been through approval processes for agricultural water permits in a different state, I'm talking from experience that when everything is completed, they still take their time because they are always snowed under with work, or the person handling that just went on holidays/had a baby/etc (and yes I've had both those excuses when everything was finished).
Royal_Viking, While the company has a great resource, and have promoted it really well, it is just like every other company in that there are ups and downs along the way. As lithium becomes harder to get and more expensive because of the increased demand, the SP is going to go up, but there WILL BE large corrections along the way as problems of one type or another develop. There are always problems with any mining development.
The shear fact that PLS stated production was 6 weeks away in November of last year highlights that in neon lights. In June the MD stated at the Melbourne RRS conference that the last important permit was coming on the 23rd of June. Apparently the water permit wasn't considered an important one, yet that is holding things up. All the permits are important, not having this one yet is just a disgrace in planning and timing.
This company is currently over promising and under delivering, and must turn that around next year. At present believing a timeline is very difficult because the past ones have come and gone without delivery.
There are a whole group of faithfull holders here that want to hear that nothing could possibly be wrong with their investment, and certainly do not want anything suggested on a forum. You get that in just about every company that has had a meteoric rise in SP. Any fall or suggestion of such is just not on their agenda, and anyone that suggests something is not going perfectly gets told to go away or stop posting, or the ultimate threat of being put on ignore (similar to putting their heads in the sand).
Now watch the number of people who totally dismiss what I have said because the SP has gone up a long way over the last few months.
If FG is correct, there will be no income from TT this quarter, as they wont be wet commissioning until December at the earliest, then the Christmas break will slow things down and first delivery will be early next year, only a couple of weeks later than intended, but in a different quarter.
PLS Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
(20min delay)