Yes this delay for last year November's results are not acceptable. I sent an email with my critics to Chris Connell today. I'm not happy with the delays even though I'm very happy with the results. The management has to be transparent and organised well.
Regarding to Pilbara lithium exploration, I don't like Pilbara lithium projects. That's a long topic and I know a lot about it. No one can produce SC6 there because of high iron content and high impurities in the iron country, and the production cost is always at least triple of Greenbushes. (PLS's cost is close to AU$1,000/t while Greenbushes's cost is no more than AU$300/t). MIN/ALB JV's Wodgina is in Pilbara and it has the same problem, can't produce more than 5.3%. Yes they can if they want but it's cost at least double of their cost for 5.3% (they don't say that though). The good things with LTR, it will be producing min SC6 and even more at the the cost of around $650/t.
Therefore Pilbara project are high cost projects, and they tend to be bankrupted when the market turns badly down (It happened to AJM and PLS was nearly experiencing that).
Atm we are living in interesting times though. As you said a lot of people has made at least 3-4 baggers in some of these stocks in short time (mainly in AZS, now RDN and WC8). However it all weird. I couldn't see any pegmatite outcrop in RDN's anns but just some rock pieces and assays of it. I won't buy stocks just with soil and unoriginated rock pieces. I paid a lot to learn that.
AZS is another puzzle. it's mcap ($3b) is now 50% dearer than LTR ($2b) now. Gina will not buy AZS. Gina and Chris just locked it and AZS will be an ordinary explorer after the dust settled down, and indeed its sp will come back to $2.40 back again IMO. Btw I don't know what RDN has. They have to drill and find the actual pegmatites to be a $200m company.
IRS has got the high grade and very shallow pegmatites of course. All of those pegmatites are in very small area. They can be mined easily without any ore dilution (this was mentioned on one of the anns) which is very important. That's another problem of Pilbara projects; because the pegmatites are spread out to everywhere the miners have to dig the ore from different places and that causes a lot of ore dilution. So they can't produce a high grade SC6 even very hard to produce anything over 5% (that's why PLS's cost is close to AU$1,000/t for 5.3%)
These initial results are better than any results of any Pilbara explorer IMO.
And, they also think that there might the extension of another 90m thick pegmatites layer under those shallow pegmatites. Same as the one discovered by the diamond drilling at the south of project at the Black Diamond location. Then it will be a huge thing.
I'm also not sure if a punter is pushing down the sp to accumulate or to put a bid on the project. Anything can happen in these days.
Look at them, They are great. You can even start a mine there now (by using DMS but no floatation)!
(20min delay)