PMT Megathread, page-1534

https://www.google.com/amp/s/amp.abc.net.au/article/103364330

If you read the entire article there are a few takeaways, but the key one for me was that current prices are not incentivising supply (even for ALB which already has a plant but will not go ahead with the expansion). This will take a while to filter through to the supply side but I would expect further curtailments in other global operations including those in Australia. Clearly there is more pain to come before we see conditions tighten to a point where it starts to affect price to the upside.

I would prefer PMT to spend the majority of their cash balance on drilling over the next 2 years, so they can demonstrate scale (arguably can do now) before a DFS which will look better in tighter conditions. I see no point in rushing to permitting at this stage. In a hypothetical scenario where they were capable of entering poduction NOW, why would you do it? Its uneconomic. Theres no rush at this stage.