1. Other spodumene/brine producers are making a profit in the current market conditions.
2. The current market conditions may last all the way through 2020 and beyond. Some analysts suggest Spodumene prices will be depressed until 2024.
3. PLS management made several mistakes. They couldn't land a partner agreement, they could get the plant running well (when other companies could), they sat on their hands as the SP collapsed then did a credit raise at a low price diluting shareholder capital, they signed crappy off take agreements.
This is really a failure of PLS. The trade war doesn't help, but let's face facts -- this company seems incapable of making a profit. Meanwhile ORE is making a profit in current market conditions. Cashflow matters and so does profit making capacity. Again -- PLS is losing money every single day, while ORE is making money.
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