$1.50 SP, page-8

The share price will follow the LIthium price up until the project becomes uneconomic, which given our pile of cash places us well ahead of others in the sector. We will need to see many more failures and projects canned before the spod prices rises from all of the over supply reading being published at present , which is bad for the short term fortunes of PLS but good overall as all of the explorers, and low margin producers will close one by one as funding and margin pressure kills them.

Looking over night we see Chnia lithium prices down heavily again to 68,400 Yuan down almost 15% in 2 weeks because of overs supply. PLS should tighten their expsense line maintain cash and focus on margin sustainability as others fall over and we will end up the winners.

I cant see how there will be 20 giants in Lithium but 3 or 4 bigger players who come through the bull bear bust of this commodity as RIO and BHP did in their time.