GXY vx PLS Resource Comparison, page-3

Quite simple mate,

GXY - free cash flow ~$140m p.a. , operational mine with production kinks ironed out, plenty of room to further drill/explore/processing/extract from mica to boost resource, experienced operation and management team, debt free and with a war chest by the time PLS actually...you know...becomes a lithium miner rather than a marketing and fund raising exercise.


PLS - there is a whole round of delays and production bottlenecks to come, cost reduction to achieve, learning on the job, and after which a whole round of debt and leveraged commitments made when their hands were tied and so the list goes on...

And if our friends in high places are right, before PLS even gets close, the market will be in oversupply such that it'll be uneconomical to extract much of the millions of tonnes you speak of.


The reality is PLS has great potential should the lithium bull market continue for another decade. Yes it'll be a big player IF that pays off. But by then assuming the bull market continues, GXY will have 3 diversified assets/sourced, end market penetration with GXY branding, substantial free cash flow (and cash flow is king) and probably some wild cards (acquisitions) or other assets to boot.

The reality is, if you think PLS will be successful, GXY has to be successful first and for awhile. So I see it as - you can see GXY as a derisked investment, PLS as a higher risk play. But you can't believe in PLS without believing in GXY.

GXY are winning at tonights big game and the ongoing championship while the PLS team are still trying to draft their dream team and actually join the hunt.