Good News & Bad News, page-5719

Hi Whisky,

I generally think you're one of the more balanced PLS posters and I totally agree with the last line in your post ... Wth a MC of $578m and not making any money it is not necessarily cheap IMO, but is well placed to survive and eventually thrive in better times

However, I struggle with your optimism for PLS due to Tianqui's problems. Aren't you concerned that Tinqui's spodumene mine and LiOH conversion assets could be sold to a competitor of PLS below replacement cost? The best spod mine in the world isn't going to stop producing ... but a change in ownership may result in the new owners having a lower (still) cost base. How can that benefit PLS?

ALB and Tinqui halting capital works on conversion plants? ... how is less LiOH conversion capacity beneficial to PLS? Especially when KB repeated claimed that "bottleneck" conversion capacity was what was harming PLS?

Cheers, Simon