Canaccord research report target $2.60/share, page-56

I caught by surprise for $50m raise. That was hard to judge the raise is good or not.
For share price, it's bad for short term share price. But on the other hand, you have extra $50m which allows you to comfortably do DFS not just HMW, but also Candelas, as well as Greenbushes South exploration.

It was just about a year ago, PLS was forced to do 30c CR, then 36c. Recently LTR at 76c etc. It was hard for lithium companies to raise cash, and now some institutions knocked at your door and offered $50m cash at a not bad price, would you take it?
I would, especially with a vision to take all projects to production.

That's just my opinion.