Ann: Corporate Presentation, page-56

PLS already have decades of mine life with their assets, which doesn't even mention future exploration upside.

To put it into perspective, once P1000 goes live, assuming 6% Spod, this will require 5.2 million tonnes of 1.14% Spod (the grade of PLS' ore resource).

PLS currently have 309 Mt @ 1.14% in their ore resource. A simple calc (which no doubt has its flaws) shows that the 309 Mt could sustain ~60 years mining at 5.2 mtpa of 1.14% ore. Using the ore reserves number, that shows ~31 years.

There's further upside with PLS' assets through exploration. Personally I'd rather PLS focus on P680, P1000, Calix midstream, POSCO downstream, further downstream JVs/projects, buybacks and dividends for shareholders (once franked divs are possible).

If there's money still left over, I'd rather PLS diversify into other future facing metals (like nickel, copper, graphite etc). I'm obviously bullish on lithium, but in the long-term I'd welcome further diversification (similar to FMG with Green Hydrogen, for instance).
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