I think LYC is a better example.
Wave 1 and 2 of a "rare" commodity (see 15 yr chart), and then the long drawn out build stage/ government issues etc, until finally profitability and recovery off bottom....a long road.
Never smooth sailing through the build/startup phase (orphan period) to profits.
I also did respect Freeholds bullish points, but at $4B, I could not see the value at this stage of the companies development...but look forward to the new DFS.
Obviously the main factor driving the boom is pricing (and sector momentum), so how will it hold up over next 5 years, and what deposits will come online at these high prices now and what tech/substitutes will arrive if prices remain too high too long.
All commodities have cycles, Lithium will be no different and will find its peak and more marginal deposits get bought online etc...and AVZ propose to add to this supply big time.
Yes, not "downramping" as that's a childish HC term, and I also did fine with PSC in low teens.
I just thought AVZ got way ahead of itself, and well done on holding long yourself, but you must keep asking the question, would I buy at A$4B ($1.35+) if I held zero AVZ? My answer was no. Too risky
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