A word from the company, page-14

Bobadah – when you say “ Wewill definitely have a revenue stream in the December quarter “ , do you mean a profit , or just revenue coming in , butstill not a profit on sales.

Like many here , the only problem l see with PLS, is the time it mighttake to become profitable.

I did ask one of the directors at the recent AGM and he thought late2020 or 2021. That’s OK , but l sure would not want any longer with our BalanceSheet situation.

Last night l met a guy who seemed to know a fair bit about lithium and such stocks. He was of the view that PLS biggest problem ( nothing new here ) was holding on until the Lithium prices greatly increase which could be anything from 1 to even 5 years.

He was a very big believer of Lithium , but was of the opinion for a switch from PLS to ORE – really only due to the possible time involved before profits become the norm with PLS. Whilst PLS has the better quality mining assets , it does have what could be described as a dangerous Balance Sheet in terms of money being burnt until the profits arrive. From memory l think he was quoting a 15 million loss for our September quarter whereas ORE had a small profit – his comment, maybe l should check before writing. He just thought ORE was a more responsible safer investment based on cash flow positive situations , survival and safety.

Anyway , l have held on for years and will keep doing so , but as on old bloke now , l sure hope our BOD can find ways to greatly reduce the cash drain until our good times do arrive – we certainly do not want another capital raise.

Have a good weekend