What is happening with PLL?, page-15

I think Joe Lowery is good when it comes to the nitty gritty, how things used to be, historical background, industry guy type of stuff. But he's anything but a competent stock picker, and sounds very stuck in his biases, and very bitter that PLL got the TSLA deal and not LAC. His investment picks never include any fundamental analysis, valuation, etc.

When it comes to PLL, I think he's way off. He's focused on whether the PLL/Tesla deal will actually happen in a few years - who cares - the benefit to PLL is today in the form of market and industry credibility. It doesn't matter if PLL doesn't end up selling Spod to them in 2024, and I'd argue it'd be a good thing, as they could then capture the downstream margin + prices will almost certainly go higher. The other thing he keeps mentioning is he doesn't think they can be a low cost producer, while Roskill actually did the analysis and showed they'd have the lowest cost integrated project! Lowery makes claims with nothing to back them up - just says it. I think Howard Klein (RK Equity) is so much better when it comes to evaluating the investment angle, and is way more forward looking. Check out his podcast, research notes, YouTube videos, Twitter feed. Very in depth and thoughtful work. Hope that helps.