This is what happens when mines expand and new mines come on we get an over supply issue.
Saw this with iron ore way back in 2007.
New IO miners came in and the ore price free fell to the point the junior miners soon disappeared leaving the big boys
and then the IO price went up.
History repeating itself just for lithium miners now.
Longer term PLS and the big boys will survive where the junior ones will go bankrupt then the ore price will go back up.
Its all good.
So buy in fear which is right now.
I suspect PLS will be above $4 in the new year then not long after than about $5 before it levels out again.
Come February we get the last 6 months and what ever dividend is likely which might be about 10c then the shares zoom up again.
Spodumene Prices, page-3702
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Last
$2.92 |
Change
-0.060(2.01%) |
Mkt cap ! $8.789B | |||
| Open | High | Low | Value | Volume |
| $3.00 | $3.01 | $2.91 | $68.57M | 23.32M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 33426 | $2.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.93 | 27520 | 3 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |