Brokers going on a junket to Zimbabwe, id say the gov or the Chinese are paying.
Ubs on PLS
African supply a key driver
Markets appear well supplied with spot ~US$900/t and no clear catalysts for a rebound, meaning risk remains to the downside in the short-term. Our own forecasts of US $1,000/1,050t SC6.0 over FY25/26 are beginning to look slightly optimistic with the ramp up of African supply a key driver. We will have more to say on this post our upcoming visit to Zimbabwe next month. PLS continues to trade expensive on 15.4x/8.2x FY25/26E EV/EBITDA with any cash inflection still >15mths away. At US $1,000/t spodumene indefinitely our NPV estimate declines >55% to A$1.10/sh.
Ann: June 2024 Quarterly Activities Report, page-137
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Last
$3.01 |
Change
0.100(3.44%) |
Mkt cap ! $9.064B | |||
| Open | High | Low | Value | Volume |
| $2.93 | $3.02 | $2.83 | $89.14M | 30.38M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 245889 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 76015 | 16 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |