Be surprised to see the SPP 4M at 11c gets over the line.
Still believe its at base camp around here
One of Australia’s biggest lithium producers says a Chinese battery giant’s $7 billion Hong Kong’s debut underscores long-term faith in the sector despite prices for the metal crashing to a four-year low.
PLS, formerly known as Pilbara Minerals, owns and operates the Pilgangoora lithium mine in Western Australia. It spent $500 million earlier this year to take over Latin Resources and its flagship lithium project Salinas in Brazil.
t appeared lithium spodumene prices had found a floor about $US800 a tonne this year, offering a brief respite after a punishing 90 per cent plunge from their 2022 peak above $US8000. But that fragile stability has cracked. Prices fell to $US625 a tonne on Tuesday, the lowest level since February 2021, according to S&P Global Platts.
Must be some producers hurting out there at around US $600.
JP has the 13m raised at 11c. See how far that goes?
IMO
GLN Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
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