Here is just another (important) thought to consider, going forward, and to question the directors on.
Recently, the EU has thrown a hand-grenade on to the battlefield, about where it gets Lithium supplies.
The latest PLL presentation says 30% of production is to Tesla, but the rest 70% (may) be to the EU.
Think again, at the EU summit yesterday they have stated that 100% of their Lithium supplies will come from within Europe by 2025 - so where does that leave PLL?.
This is another solid question for shareholders to ask the directors to answer, and hopefully the directors will respond without any spin or bull. If they want a remuneration report to pass, and if they want to make millions of dollars for themselves, then they better start working effectively, for shareholder profits.
So where does this leave PLL?
We need to ask the directors what they are planning to do about this latest EU directive and intention.
Asian supply is completely filled by Australian companies into China, South Korea and Japan.
So now that the EU supply has been closed off to PLL by 2025, who else can they sell their excess 70% production of spodumene to ?
Nothing is ever simple or easy, problems always occur, this is why we invest in management, more than anything else. So how good is the PLL management? Are they short term scalpers, or do these executives REALLY want to eat, sleep and breathe bringing a lithium project into operation in the USA? How can they prove their intentions?
Something went horribly wrong at the last AGM for them, with a failure of the remuneration report to pass, which to some is a HUGE red flag, and quite a worrying sign, because it hints at the primary motives of the directors (i.e. excessive greed) - this is why you need to keep a very close eye on these directors, and on the remuneration committee, and what the directors propose to pay and reward themselves - PLEASE (shareholders), keep a VERY close eye on these guys going forward.
No wonder the remuneration report was voted down.
These directors have a lot of work to do.
Shareholders should hold them to account.
We should tell them, that the Easy and LAZY money for themselves has gone, and if they are not in here for the Hard yards then they should resign now, because it's time for the honest mom and dad investors to see answers and results.
Gw
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