asb I believe you may be the one to have drunk the coolaid mate
The price of li is obviously controlled by the buyers at present - 90odd% of which are located in China and are actively battling to control the EV and Battery market. All actions at present are designed to limit growth in the west.
Add to this the amount of short investment by powerful entities realising this and exercising their powers to support a narrative that suits profiteering. Again this will only be temporary as the share owners will require returns in time.
The reason the value of PLS is holding is its quality product, low cost production, location and management coupled with wise future investment and programs.
PLS is not going under until nearly every other private Li miner worldwide is already out of business.
I also have not seen any miners claiming inventory run down - only manufacturers and Chinese 'sources'. In fact atm we are selling every scrap we can mine. Doesn't support an oversupply narrative or they wouldn't be buying it.
In relation to the value of PLS - why do major investment Coys hold so much PLS if it is such a long/mid term risk? makes zero sense. They are obviously all fools to have invested so heavily in the $4 range if it is only worth $2.
You obviously know much more than they do - hence why you are a self made, self funded person - right? Or as I suspect do you take home few $$ per week PAYG and live in a rental?
Profit may be subdued this quarter but I don't believe it can be sustained - if it is sustained much longer then there is a massive spike in pricing to follow which we will extort. PLS cleverly made hay while the sun shone as good business does to ride lows.
Frankly It is also tiring to continually read your negative bs on a thread about stock you dont own- it is a low act. Go comment somewhere you have some skin in the game.
PLS Price at posting:
$3.91 Sentiment: Hold Disclosure: Held
(20min delay)