Unfortunately I could attend the AGM due to a health issue (not serious) as I had to fly from Melbourne to Perth.
I got the the opinions of friends who attended the AGM and watched the AGM recording.
I must say that Tony Ottaviano's presentation was fantastic. He is being a great leader and knows his stuff. He touched all the important points about the lithium sector and I agree with him 100% because I posted the same opinions here in recent weeks. The slides on the preso are also giving very important facts about the lithium market which I'm agreeing with 100% again.
It is obvious that LTR management also thinks that LTR is the lowest cost producer after Greenbushes. I also liked the strategy that they keep reducing the cost which is the key. I don't think any of the other producers will be able to reduce their costs enough to remain profitable in this though market but LTR will.
As Tony O said on the last webcast "we are good". I agree with that. Let's keep producing even at breakeven price of US$850 for SC6, and wait for the others to go into C&R for longer.
One of the most important points which TO said was that there is no new greenfield lithium project coming online in this decade. Of course he meant the tier-1 project. I said the same thing before as it was obvious. That means there will be a huge deficit towards the end of this decade.
Anyway, it's all good for me. Yes, we are battling with the low lithium price but it is what it is. I've gone through these kind of situations in my business life, so I'm immune to it. As long as you make the right decisions and do the right things you win at the end. I believe what LTR management is doing exactly correct. We are in the right hands.
LTR Price at posting:
77.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)