I had viewed the rockchip data and firmly thought it was an anomaly. My price targets on BSM have been solely based on the graphite production and achieving nameplate production. Given the results from today I will need to factor in a risked value on the lithium asset. Whilst a long way from production the current price of 6% Spodumene of just under US$1000t is cause for some quiet optimism. I thought BSM was solidly undervalued before this announcement but now think this should spake a rerate.
In the interim, more graphite and positive cash flows will assist and I am still hopeful of a consolidation as there are still way too many shares out there. 25:1 would be a good starting point but 50:1 would be good as well.
GLTAH
I had viewed the rockchip data and firmly thought it was an...
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