Ann: FY23 Full-year results presentation, page-180

Remember when spod was selling for like $500/tonne in 2020? Problem is that at current prices, any rock lithium resource looks economically fantastic. What happens when prices drop to $2000/tonne, when an outrageous fortune is still possible for many resource deposits to bring on more supply? That $2.4B profit now becomes $0.7B at best, which is a PE of 20 at current share price. My curbing of enthusiasm here has nothing to do any envy I could have of you lot given I sold out at $0.18/share in 2020, at a cost of $0.70. I'm not completely dumb, I happened to buy LKE at $0.03 back then and sold out high enough.
Key here is whether China keeps making insane numbers of EV's for its own diminishing population that may be copping a financial haircut. If they can't and if the developed world can't stomach chinese made EV's (I certainly can't, love my Jap made PHEV) and/or batteries, then spod sort of has to go back to well below $2000/tonne. But for now, PLS will theoretically recieve $1.5 Trillion AUD for their 218MT of reserves at current prices. That's insane.