Ann: Change in substantial holding, page-5

I reckon SP growth will come from whatever PE the ASX values SOP companies at. Same applies to KLL.
Compass Minerals (also has a rock salt business), has a PE is around 20. SQM is 20-25.
The Lake Way hydro and financial model has been totally optimized, I can’t see any upside, the only growth is acquisition of further tenements over any paleo channel due south. The other lakes are a growth opportunity but each lake will cost more than Lake Way to develop and we already have realistic exploration targets.
Once SO4 and KLL are re-rated, investors will examine the rest of the sector as is always the case.